There are very strict laws around the use of this data. Authorising its use for the credit tracker feature doesn’t automatically grant use for lending and eligibility checking purposes. There’s more detail on this if you check the privacy notice within the Settings, documents and T&C’s section of the premium/plus tab in the app.
Monzo would be exposing themselves to hefty fines both from the FCA and due to GDPR if they did so without our explicit permission.
I can’t answer this, but what I do know is that people are being declined a JA before there’s any credit file check.
I am in this boat - I cant even get throught the JA page. Just an instance “sorry we cant offer you an account blah”.
Which is irritating given my own perceived presentation to Monzo. High income, clear credit, been with monzo since 2017, they have my business account which has significant cashflow, theyve offered me a loan… why am I unable to open a JA. Baffles me.
I continue to use my Starling JA, but check monthly in the hopes that something has changed.
So my app has finally opened and let me apply for a joint account.
The only change that I can identify is my credit score… on the 5th July it was 899 on experian. On the 6th July it went to 942.
On the 5th July i wasnt eligible (I happened to have checked whilst on holiday)… the next morning my score went up, so I logged into Monzo and it was then available.
Im sure no one will confirm this was the sole reason, but this is the only change visible from my side.
Well after my joint account application submission last month - the application sat in ‘queue’ and it took them three weeks to decline it and tell me I am not eligible again.
Back to the drawing board. In the mean time, theyve offered me a loan and a flex account. Curious how im credit worth to lend money too… but dont fit criteria for a no overdraft joint account. Doh!
