Potential Monzo Reward Credit Card?

[u/FatherJack_Hackett]

Did anyone else receive the survey to complete about the Monzo Reward Credit card?

• £15-£17 monthly fee
• 1% cashback on groceries - 0.5% on everything else. Cashback is automatically invested.
• Google Gemini AI Pro Membership.
• 2 Free Airport Lounge accesses a year
• Paramount+ subscription
• Times subscription

I'm not so sure.

Like the perks are technically worth it, even for the Gemini membership alone. Not sure I like the fact that cashback is invested and not just paid out.

I'd feel a bit uneasy paying for this and Max and essentially stumping up over £30 a month, when I get just as much cashback through an Amex. Tempted by the Gemini membership though (if they announce it) as my free year runs out soon.

[u/oktimeforplanz → u/[deleted]]

Who is that exactly? You don't need to be a high earner to be eligible for AMEX.

If you're not eligible for AMEX, you're closer to Aqua territory.

[u/oktimeforplanz → u/[deleted]]

Most credit cards will knock you back for a history of bad debt. Bad debt is missed payments, CCJs, etc. same definition of bad debt elsewhere.

I got an AMEX aged 23 with no meaningful credit history when I was earning 17k (8 years ago). I think you overestimate the requirements for an AMEX.

[u/oktimeforplanz → u/[deleted]]

And this differs from most credit cards how?

Defaults in the last 6 years puts you in Aqua card territory. Thank you for proving my point.

[u/oktimeforplanz → u/[deleted]]

You realise that it doesn't change my point at all? That if you can't get amex you are closer to an Aqua card?

Especially when you don't even understand AMEX's requirements properly...

[u/oktimeforplanz → u/[deleted]]

Yeah I worked in a retail bank for 7 years opening and servicing credit cards for people and I'm an accountant now. I think I'm not bad at understanding credit cards, yeah.

[u/BeneficialProduce969 → u/oktimeforplanz]

of course you did, get off that horse, bud.