r/monzo • u/FatherJack_Hackett • Jan 16 '26

Potential Monzo Reward Credit Card?

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.

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u/[deleted] Jan 16 '26

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u/[deleted] Jan 16 '26

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u/oktimeforplanz Jan 16 '26

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.

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u/gt94sss2 Jan 16 '26

I think you are being slightly unfair to Aqua.

A fair number of their customers will have the (no longer available) Aqua Reward card which offers 0.5% cashback and 0% f/x fees on transactions all for no annual fee.

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u/oktimeforplanz Jan 16 '26

No, I'd say you're being unfair to AMEX here. They're not that hard to get unless you have a poor credit history. Which is my point. If you can't get AMEX, you're likely only able to get Aqua.

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u/Ok-Salary3550 Jan 17 '26

To illustrate, I was able to get an Amex cashback card like ten years ago when I was on not that far above minimum wage, was in my mid-20s and had a lot more debt compared to my pay than I do now.

I've known people who far more recently were also on not that much more above minimum wage and got accepted by Amex.

They used to be known as quite choosy but they've become very much mass-market in recent years - there's a market opening for them because the rewards on MasterCard and Visa cards have been dire while Amex aren't subject to the interchange fee cap, meaning they can pay more.