Setting a default plan for credit card purchases

We’ll automatically set any new purchases you make with your credit card to whichever default you set. You can pick from three options:

Choose each time - Pick a plan each time you make a purchase. If you don’t pick within 24 hours of making a purchase we’ll move it to the minimum monthly payment.

Pay in full - For paying off purchases on your next payment date.

Minimum monthly payment - For paying over a longer period – up to 24 months depending on the cost of your purchases.

To set your default, tap the Home icon in the menu bar

You can’t default to pay in 3, 6 or 12 monthly payments

We’ve seen lots of people using their credit card for everyday purchases which they then pay in full, while using instalments to pay for occasional bigger purchases. So we’ve built the first version of defaults based on the experience that credit card users are used to, which is paying in full interest free and paying the minimum monthly payment.

You can still edit plans before the first payment date

Being able to choose how you repay each purchase is a core feature of your credit card, and you’ll still be able to do it when you default to paying in full or paying the minimum monthly payment. We’ll continue to send you reminders when your monthly payment is coming up, so you’ve got time to review and change your plans before the first payment date.

Editing plans works the same as before:

You’ll need a Monzo account to be able to apply for a credit card, if eligible. You must also be a UK resident aged 18+ years. Not keeping up with payments may negatively impact your credit score. Ts&Cs apply.