Changing your Flex credit limit
You can request to change your Flex limit (the amount of credit you can use to flex purchases) straight from the app without needing to contact us. Whether you’re decreasing your limit or requesting a higher limit, once you confirm, the change is effective straight away.
Tap the Home icon in the menu bar at the bottom of the app, then:
Tap on the Flex card to see your Flex feed
Scroll down to the ‘Payments settings’
Tap on ‘Credit limit’
Does changing my credit limit affect my credit score? Decreasing your limit or seeing if we can increase your limit will not impact your credit score. We’ll run a soft credit check to see if you’re eligible for a higher limit. 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.
If you’re not eligible, we’ll have only run a soft search, so there’ll be no impact to your credit score. You’ll still be able to keep your existing limit and the same interest rate.
How often can I change my Flex credit limit? You can decrease your limit whenever you want to, but not below the amount you’re currently flexing. To increase your limit you’ll need to request a higher amount, this typically takes a few minutes to find out if you’re eligible for a higher limit through the app.
You can request a limit increase as often as you like, each time you’ll need to confirm your personal details and we'll make sure you can afford to borrow more from us before increasing your credit limit. It’s unlikely that you’ll be eligible for multiple limit increases per year unless your circumstances change significantly.
It’s important to know that if your credit file or circumstances (including your income) are different since you last changed your limit, the amount that we're able to offer you may also be different.
I am having difficulty managing my Flex payments, who do I speak to? We’ve put together some useful information on managing your money with Flex. Please get in touch with us as soon as possible if you’re struggling to repay money you’ve borrowed from us. If we understand what’s going on we could look at putting a solution in place that supports your needs.
If you'd like to find out how we can help with managing your borrowing, please get in touch through the Monzo app:
Tap the Help icon in the menu bar at the bottom of the app
Search Managing your money
Tap chat with a specialist
