Offer credit card 💳

Monzo are really risk adverse, I don’t think they’ve made any profit from their loans, so this could be a reason why the won’t offer a credit card.

:monzo: is working on a (currently) unpublished feature which seems to be related to offering credit - most people would call it credit card development.

Source: Monzo Credit Card - what and why! - #79 by TheoGibson

Credit card - please. I want to switch fully to monzo to move away from our well known bank that is frustrating to deal with all the time - but without a fully integrated credit card, my wife just won’t make the switch.

It’s not the credit side of things, apart from the protection from it being a credit card itself, as we pay in full each month. It’s the visibility of it being fully integrated, and especially from a joint account perspective - so one account shared, each of us having access to it, and with us both having a joint credit card also linked, with the visibility for all transactions through the account and credit cards, and then reporting and classification of the transactions etc.

That would be awesome, and just make it easier to manage and deal with, with all the rich technical goodness of monzo, and none of the uselessness of our current well known bank offering that makes me want to scream every time I have to deal with them.

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I would not rely on a single bank as much as you pointed here :thinking:
Too risky :neutral_face:

Better have a few different accounts at different banks for bills, grocery spending, travelling :sunglasses::relaxed:

It’s a marginal risk but I’d say it’s more of a temporary inconvenience (only sometimes) on the rare occasion that there is a bank/network issue.


I think this has been implemented with Monzo Flex:

Especially since you can now have a physical Monzo Flex card:

And Monzo Flex is processed as its own card:

Might be time to mark this topic as Done ?


That would be my personal opinion on it too, but it is not actually called a credit card, so I will leave it up to others to decide

I think Monzo are starting to call it one in their marketing now.

Probably best to leave this one alone for now though, to me it still isn’t quite a credit card nor a replacement for one, and I think that sentiment is pretty widely reciprocated by others too.


What would need to change for you to consider it a credit card ?

Still quite a bit.

For starters it would need to work like, well, a credit card.

I’ve spoke about it and more in feedback I’ve provided over in the flex thread.

It keeps making steps towards becoming one, but that’s the biggie.


Yes… The Clearscore mailshot said get a Monzo Flex Credit Card!

You can pay it off at the end of the month interest free - like a credit card, or you can carry a balance and pay loads of interest -like a credit card. So even if we old timers think it’s not a credit card, to normal folks it’s definitely a credit card.

I guess that’s this ancient topic nailed on the head then :thinking:

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Emphasis mine. It was better before you edited it. Now it’s just offensive, if not discriminatory. What’s normal?

Even internally, Monzo themselves aren’t clear on whether it’s a credit card. According to the folks who’ve messaged me, the higher ups want to call it one, but those lower down don’t see it as one. According to them, It’s a Klarna-esque BNPL product designed for YOLO borrowers.


Would you mind listing the reasons on here? The Flex thread is pretty long to such through and I’d be interested to read what your thoughts are.

I’d like to know what a normal folk is. Sure it’s a card and you spend on credit but it’s far from what one expects to see when they hear the words credit card.

There are no statements to speak of, no interest free period (when paying in full like on a credit card) and pending balances don’t get carried over on the statement date. I’d say those are basic things people expect when speaking of credit cards, so much so that advertising Flex as one is in my opinion not in line with the new FCA Consumer Duty.


To build from how @rarther rebutted that it can in fact be used like a credit card, it has a bit of a pain point as a caveat. Monzo will start charging you interest immediately from the moment the transactions settles. And the entire transaction must be paid off within a year. That caveat and restriction doesn’t exist with a traditional credit. You don’t start paying interest until your bill due date.

Here are some posts where I share my thoughts:

Point 4 is prudent there.

That last one relates to the billing differences.

These are all pain points, most of which still exist with Flex today (though some have been improved or outright fixed since those posts), and they don’t exist with traditional credit cards. Monzo would need to fix them all before I could start to see it as one. Until then it’s still just Klarna but with a card to me.

Another one is not being able to take cash out. Especially abroad, where there a still countries who don’t deal with card payments much. Less of a problem since you bank with Monzo, but emergencies happen.

I’m sure there are other niche things too, but I can’t think of them off the top of my head. Most will be in that thread somewhere, posted by someone, though.


I haven’t tried Flex and haven’t really been paying attention to it, but from the descriptions above it doesn’t sound like what l’d consider to be a credit card.

key issue for me is lack of monthly bill.


For those who were offended by my comment about normal folks being able to see Flex as a credit card where we see it as something other than a credit card, I was referring to the 99.9% of people who don’t spend their time on internet forums discussing the fine details of their bank :stuck_out_tongue_closed_eyes: It’s a card that lets you pay it back later, so it’s a credit card to any non-alpha early adopter super power users.


I guess flex isn’t a credit card just like chase and rev aren’t banks as they don’t take cheques :stuck_out_tongue_winking_eye:

A vote for credit card here. It’s a credit card, just a better one without all the weird stuff that is designed to rip off confuse the customers, like the 56 days no interest ‘feature’.


I think whether one approach to credit is better than the other depends on individuals. I haven’t tried Monzo Flex, but I have tried other BNPL products where credit terms are per item. I found that approach more confusing than the traditional credit card approach (single bill for all items purchased in a month).