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Monzo credit report
TheVeeg
Posts: 5 Forumite
Hi everyone,
I've had a Monzo account for a year, and am thinking about applying for the £1,00 overdraft. However. as I've just opened a credit card, I'm reluctant to do so because I fear Equifax and Experian will mark it down as a new account.
I don't want it to look like I'm struggling because I'm opening 2 new accounts in a short space of time. Will Equifax/Experian backdate the Monzo account to last year or will it show as a completely new account? TransUnion isn't an issue because they've always had the account on file.
Thank you
I've had a Monzo account for a year, and am thinking about applying for the £1,00 overdraft. However. as I've just opened a credit card, I'm reluctant to do so because I fear Equifax and Experian will mark it down as a new account.
I don't want it to look like I'm struggling because I'm opening 2 new accounts in a short space of time. Will Equifax/Experian backdate the Monzo account to last year or will it show as a completely new account? TransUnion isn't an issue because they've always had the account on file.
Thank you
0
Comments
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It"ll only look like you're struggling if you use it.0
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£1 or £100?0
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If the account is currently reported only to Trans Union then the chances are it will continue to be reported only to Trans Union. There is no reason that adding an overdraft facility will cause it to be reported to additional CRA's.
Are you really applying for an overdraft facility of £10 -
Should be 1000. When you get approved on an overdraft, it changes the account into a full current account, which means they have to report to all credit reference agencies.
Seeing as nobody really knows the answer I'll leave it. Thanks for your help0 -
Should be 1000. When you get approved on an overdraft, it changes the account into a full current account, which means they have to report to all credit reference agencies.
Seeing as nobody really knows the answer I'll leave it. Thanks for your help
Monzo is already a "full current account".
Adding the overdraft does purely that - adds an overdraft to an already existing "full" current account.
What do you want the overdraft for?0 -
Should be 1000. When you get approved on an overdraft, it changes the account into a full current account, which means they have to report to all credit reference agencies.
Seeing as nobody really knows the answer I'll leave it. Thanks for your help
Where did you obtain this incorrect information? Unless Monzo have specifically stated something to this effect in relation to their full current accounts with an overdraft facility then this is simply not true.
As it appears that you do alrerady know the answer (or at least the answer you want to hear) then best to leave it.0
This discussion has been closed.
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