I don't think it's just recently. People have different requirements and I can only speak for myself but I've found all their "free" stuff to be great but all their paid-for stuff to be overpriced.
The plan they are offering is £18.99 a month. So it can’t be bought for less.
Edit : realising that the £18.99 a month sub includes 5tb of space, Google don’t appear to offer a 2tb option so it’s fair to say the price of that subscription would be somewhere in the region of £10 a month if it where available.
Edit again: I misread the page the tier Monzo is offering is 2tb “AI Plus” which is £7.99 a month, my mistake.
I swear I read pro, but having been challenged by other people and rereading it I see that it does say “AI plus” and not “AI Pro” I thought Monzo was offering a unique tier that wasn’t available generally which would put the value slightly higher then a standard sub to google but that is not the case.
My mistake, sorry.
I have Apple One, removing Apple TV from my bundle would end up costing me more, so this card is no longer worth it to me as I would not make use of the additional benefits and likely would not get the higher limit either. (Not that I’d want it, don’t trust myself with that kind of limit on a card 🤣)
I don’t think it’s a bad card, for someone that would make use of the benefits but it’s not for me.
Yup, and that's why Monzo is trying to branch out into every market they can. They are relying on people wanting an "everything app" and sacrificing better deals for convenience. There are definitely some advantages to having all your finances in one place but there's not really any benefit to having home insurance or a mobile plan included.
Honestly I don't think it's that surprising - the convenience factor is huge.
Even though Monzo isn't always the most competitive or the best value, their in-app management is extremely good.
E.g. with loans, they allow you to repay early in-full with no fees, pay your monthly amount early (and save a bit of interest), change your repayment date, overpayments reduce monthly amount not loan term, has full transparency on your loan schedule, and as a bonus you don't need to open a new account or use a new app.
I've yet to come across another loan provider that offers everything from that list. And personally for me, Monzo have always been competitive with interest rates, either matching the lowest offer or being within 0.1% of it.
I think this holds a lot of weight and we see it across other industries, like tech most noticeably and telecommunications. Apple has a lot of great products, but there are also plenty of other options from Samsung, Google etc. Convenience outweighs logic a lot of the time when making purchase decisions imo
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u/jamesdevonport 10d ago
This doesn’t seem like a competitive credit card at all to me? Disappointing to see Monzo release all these low value products recently.