Do we know that the loan offers are based on personal account spending only?
I’m not sure it’s been confirmed anywhere but that must be the case
well that’s ruined my theory on that 
Why am I eligible for a £12,000 loan but I’m not eligible for any value of overdraft?
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Bit surprised I’m not eligible, decent credit score, never used my overdraft, pay in a decent salary
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Hi @tomdavies,
I’m conscious that it’s literally only a few hours since the original post went up, but that can often feel like a lifetime on the Monzo forum, especially when there are staff chipping into other threads.
Most of us are used to some form of interaction around the new feature that’s been announced, so I wondered if there was someone from the lending team who was going to attempt to answer some of the important questions raised in this thread?
I can only speak for myself, but to read the words “We’d love to hear your feedback”, implies there is someone reading and making note…
If you can’t elaborate further on the lending criteria (which seems to dominate the feedback so far), that’s fine, but it’s probably worth letting everyone know.
Likewise, if you do plan to answer some of the questions, do you think people could get a rough timeline for that (this week/next week for example)?
Cheers!
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Yeah I don’t have this either. I have a joint account with salary and mortgage, and an overdraft on my personal. Although I have never seen my credit score, it has never held me back in the past.
Not eligible based on my income/outgoings. Is this based just on Monzo account?
I have (what I think) is a great credit score and a salary in the early 40s. The only reason I don’t pay my salary into Monzo is because my FD loan needs a FD current account open to pay it from.
I was looking to move the loan, hopefully to Monzo, so I could finally go full Monzo. Looks like that is a no go for me.
As you have a loan with FD, you can keep the account open without the monthly fee. You don’t even need to pay the loan from that account.
You dont even need to keep the FD current account open. You cant pay it as a standing order from any other account.
Oh 
they told me I need to pay from another FD account.
Same scenario.
Yeah, they set the SO up to go from your FD account but you can stop that and set it up from any other account 
It would be curious to know the lending criteria so people could know what to do to improve.
I have the £1,000 overdraft. I had the trial £1,000 loan earlier this year, overpaid each month and then paid the £500 balance off a couple of months back. I have roughly £800 in disposable income each month after tax, mortgage, bills, etc., which allows me to do one offs like pay the loan balance off. However, Monzo state that I am not eligible anymore. They state that its based on my income and outgoings. Is it because savings are not with Monzo or because of spending all the balance on the Monzo account before payday? Is it that credit card direct debit? If someone needed a loan (which I don’t as I have savings in Marcus and Freetrade) what would someone need to do to improve?
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Monzo can’t share its commercially sensitive lending criteria as to what Monzo looks for and take into account.
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Somewhat surprised at the negative nature of this thread.
Full 15k loan on offer to me, clear terms and cost options, can even pick my repayment day and see the cost increase of pushing it back.
I think they have down a great job, if any thing they need to up the loan amount so I could use it to fund some thing useful!
Well done!
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I don’t think anybody expects them too. They just need some consistency in the messages they are giving people - some of them are nonsensical - which is far from the transparency and tone of voice they go on about.
Ahhh good. As long as it works for you, they can’t possibly improve and should not ask for feedback. Silly them 
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I was giving my feedback, product development is a rollercoaster!
Users love to point out the downs, but not enough people talk about the highs!
Based on what I have seen here the feedback as been far more helpful than any other negative credit application I have seen before.
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I’m not eligible based on my income/outgoing, however I have a saving pot with £800 and the rest is with marcus. It’s doesn’t make any sense.