Setting a default plan for Flex card purchases
We’ll automatically set any new purchases you make with your Flex 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
Move to Flex
Tap Card details beneath your Flex card
Tap Set default
You can’t default to pay in 3 or 6 monthly payments
We’ve seen lots of people using Flex as a 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 Flex, 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:
Any time before your first payment, you can pay for purchases over 3,6,12 or 24 months at your personalised interest rate, which you can find in your credit agreement here. After that, if you’ve chosen to pay interest, you can still edit it so it's shorter, but we'll charge interest at your personalised rate.
You can move to an interest-bearing monthly payment at any time if you want more time to pay off a purchase
You’ll need a Monzo account to be able to apply for Flex, 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.
