Monzo Overdraft/Loan

Hi there since Monzo Chat aren’t very speedy with replies if at all I am asking you guys for advice please .

I opened an account 4 months ago got a £500 overdraft available and a loan too . Decided last month to close the account as it wasn’t needed anymore . Reopened same account today but they won’t give me an overdraft or loan now. My experien credit score says it’s 999 which I think is the highest. I’m just a bit confused and how long do I have to wait until Monzo change their mind ? Thanks in advance

Longer than it takes you to change your mind, evidently.


No one here knows the answer.

1 Like

3 things that aren’t helping you

  1. You’re rash with financial decisions
  2. We’re mid pandemic and all lenders are being stricter
  3. Monzo have had to tighten up on who they give loans to

Lots of people here with perfectly good credit scores can’t get a loan or an overdraft. I would say it’s unlikely Monzo will change their mind anytime soon.


In addition to the above your credit score is minor in the grand scheme of things when banks make a decision on who to lend to. So only use this as a rough guide.

They have their own scoring system and layer together information from various sources to make a more informed decision.


I’ve been with Monzo for over two years. I pay my salary into Monzo. I have a perfectly respectable income. I even own a bit of the company

They pulled the loan offer recently, not that I needed it (thankfully)

None of that said by way of complaint, but to illustrate that is hardly restricted to those closing and then reopening accounts

This topic was automatically closed 180 days after the last reply. New replies are no longer allowed.