Overdraft and Flex limit increases

[ccdorset (David 🏳️‍🌈)]

Hello,

I’ve seen in the Monzo app that I can increase my Overdraft and Monzo Flex limits.

It’s something I’d like to do as I’m considering going full Monzo.

I just wanted to check if a limit increase would involve a hard credit search?

Thanks

[Revels]

Increasing Flex limit

For those of you out there who have increased your Flex limit - did it appear as a hard credit search on your credit file the next montth?

Increasing Flex limit

No hard search for Flex or overdraft credit limit increases… If we increase your limit we’ll report your new credit limit amount to the credit reference agencies, this may have an impact on your credit score For what it’s worth - this could be a positive or a negative impact - it’s impossible for us to be able to tell if it’s a positive or a negative impact. Also it’s more than likely the impact will be negligible and will be a small positive impact with one lender but a small negative for a…

[JimBee]

I put my flex limit up from 3k to 6k about 2 months ago, and there was definitely no hard search.

I can’t comment on the overdraft, though, as I’ve never changed the limit.

Edit: typo.

[BurnyCubbers77 (Burny 🌈)]

Hard search for applying for Flex in the first place, but not for a credit limit increase.
I believe the same thing applies to overdrafts, but don’t quote me on that.

[ccdorset (David 🏳️‍🌈)]

Thank you everyone!

[ccdorset (David 🏳️‍🌈)]

All done, Flex and OD limits increased!

Soooo much easier with Monzo than first direct!