What about credit cards?


I understand Monzo’s idea is offer a marketplace of services, but I do think the market has a lack of next level ‘digital’ credit card companies. I’d love if Monzo brought out a credit card. A great way for them to monetise too.

Current account, joint accounts and credit cards - everything you need from a bank.


Hi @anon59862643 dropped your post in here. As you see the suggestion has been rumbling on for a while! No plans yet but who knows what the future holds!

@tom post gives you an idea of Monzo’s feeling towards a credit card


Tom Blomfield’s comment is from 2 years ago. Many things have change at Monzo since then I would like to know if he really feels the same about Monzo credit card now :thinking:

I can see Starling offering credit cards in the near future. It should be relatively easy for their customers who have already had a bank account with Starling for some time to be accepted. :smile:

Monzo is making huge mistake not pursuing the credit card business. Other fintechs will step in in the absence of Monzo’s offering and winning back the loyalty of customers will be difficult :cry:

I realise that credit cards are not necessary in many countries but the UK is not one of those places. I can’t imagine not having cc in the UK or when I travel abroad. :joy:


I really don’t agree. Let me explain why by looking at Monzo’s strategy and then the credit card business and how fintech might seek to disrupt it.

So for Monzo’s strategy, they’ve continuously said that they want to make the best personal current account on the market. There’s still some way to go to achieve that ambition - particularly when you look at them wanting over 1 billion users worldwide. For every additional product they release, the less focus Monzo has on the current account. Now, you might argue that joint accounts showed that this mission had been diluted slightly. That might be true, but there’s a long way to go through international expansion, additional features, business accounts etc before you arrive at credit cards.

Also on the strategy, Monzo wants to help people manage money better (or create a financial control centre) - they can do this by integrating credit cards provided by third parties. They don’t need to provide every financial product themselves.

Then there’s the question of credit cards and fintech. Tandem aside (which I’ll get onto) no fintech has attempted to enter this market. I suspect it’s because you firstly need loads of capital to lend, but also that the innovation that we associate with fintech (instant notification, spend analytics, low/no fees etc) don’t naturally marry with credit cards. To make money a fintech would need to hope that people persisted in credit - the more helpful and intuitive spending insights the more unlikely that is to happen. I mentioned Tandem earlier, but its implementation seems to be very old bank (paper statements!) rather than fintech.

I may well be proved wrong but I can’t see a credit card in the Monzo’s short to medium term future. I can see integrations with third party providers, sure. And maybe Monzo trying to rethink the benefits of a credit card in a different way - a way for section 75 type protection, for example, or a month’s worth of 0% interest - but not a classic credit card.

Just my views - time will tell!

(Edit: Despite all that I’d quite like a decent fintech credit card!)


Hmmm…somehow never saw all these replies but yes - totally agree with Nick! Credit cards are the safest and most rewarding way to spend money, so I put absolutely everything on there, and pay it off each month.


I used to. But I got to the point where I didn’t really know where my money was going - and no instant notifications /live transaction list irritated me after being spoilt by Monzo. I’m actually spending less and budgeting better with Monzo.

I’d still like a good modern credit card though. As in waffle on about above, though, I’m just not sure it’s in the providers interest to give one to me.

But a credit line, 0% for a month, purchase protection and integration with Monzo = :heart_eyes:


I am aware that Monzo wants to make the best current account in the world. But they could stop for a second to give some consideration to what could attract people to using their current account more.

To me the answer is straightforward. It is the credit card offered by the same company that provides current account for me, has the same values which made me consider opening the account with them in first place.

I am not sure if I need marketplace to choose a credit card. I am not convinced if the credit card I want would be available there. What I know is what kind of provider Monzo is and that I would trust them with how they run their credit card business more than I trust Barclays, HSBC, Amex or as a matter of fact other marketplace provider.


Out of interest, what would you do if there’s no Monzo credit card forthcoming? Move back to a high street bank that provides a credit card and a current account?


I would be where I am now. Using great current account from modern bank and very average credit card from a backward provider. Not satisfied and returning to this thread to check for any update from Monzo.

(Jamie 🏳️‍🌈) #255

It ain’t gonna happen.

(Jolin) #256

I wish they would! Like @Peter_G, I would love a modern credit card with instant notifications and that had an API for integration with other apps.

I’m not sure how many customers they’ll lose by not having a credit card. the availability of a credit card is certainly not a factor for me in choosing a current account. My current account(s) and my credit card are two different products with two separate decision-making processes behind them. I’m curious if this is abnormal or not?


Not for me. Although if the current account provider I’m with also has a decent credit card then it’s easier for internet banking etc. But I would always go for the best card for my purpose (and sometimes multiple ones for, for example, travel, 0% spend, 0% balance transfer, monthly spend etc).

(MikeF) #260

Not for me. I haven’t had a current account and card with the same bank for 15 years or so.

Always based elsewhere.


What do you prioritise more in you banking set-up? A current account or a credit card? :thinking:

(Leon) #262

For me definitely a current account as all money flows from there.


Same here. Credit is nice to have.

(Jolin) #264

Me too, current account is far more important.

(Kelvin Papp) #265

Not in my head… I like the security that comes from having my own money in one place, and a line of credit elsewhere.

My credit card is primarily used for expenses, and the odd exceptional purchase where I want the added protection that a credit card brings. It’s nice to know though that should the worst happen with my bank, I have a buffer elsewhere I can fall back on until things get sorted :grinning:

(Jack) #266

The only thing I use my AMEX card for these days is large purchases & putting fuel in the car.
I use to put all my spending on there though, if only for the points.

A current account is more important to me.

With monzo being so tight on their overdraft lending I can’t see it happening anytime soon. We’re more likely to see business accounts than a credit card in my eyes.

I’d rather them focus on a few core products and do them well, then let the marketplace take care of the rest.

It would be nice to have a proper monzo style fin tech credit card provider though. Tandem doesn’t cut it for me.


Current account and a credit card are almost equally important to me but it has to be remembered that those joining a bank forum are quite likely rather different group from an average person.

From what I see around me, most people treat their current account as a money in, money out type of product. However they put quite a lot of effort researching various types of credit cards according to what they prioritise: rewards, cashback, 0% interest deals and other features. I don’t see many of them using their debit cards, especially after most of us have gone cashless and ATM withdrawals are rarely needed.

A current account is for them a rather standard product which doesn’t really excite them. But these are those who can get a credit card, have good credit record, are in their 30s and 40s so have built up a decent credit history. They are completely disinterested in features such as instant notifications, and dont even think about switching their current account as they keep a couple of direct debits and an odd standing order, if any and might worry about things going wrong even with the CASS guarantee. Why bother? is their mantra, No points, no cashback, no interest, nothing :joy: