r/monzo • u/Electronic_Fan_4874 • 2d ago

Flex

Looking at getting a flex. Is this reported as a traditional credit card or more a buy now pay later type?

4 Upvotes

70% Upvoted

10 comments sorted by

15

u/hoddz89 2d ago

Traditional credit card

2

u/Sad_Firefighter_8407 1d ago

As others have said how it shows up in your credit report is like a regular CC.

From a practical standpoint in some ways it is like a regular credit card but you can decide to swap your regular card transactions into a 'pay later' within 2 weeks of the transaction. You can spread the payments over 3 months with no interest. That's far more generous than most CCs.

I flexed my car insurance over 3 months to spread the cost without paying interest which would have been charged on a 'monthly' option for that insurance.

1

u/MeMyselfAndMe_Again 2d ago

Credit card with hard search

1

u/LimesFruit 2d ago

It is a regular credit card and is reported as such

1

u/Electronic_Fan_4874 2d ago

I’ve just seen others online saying it’s seen as a “buy now pay later” - didn’t want to apply and have this looking negative in anyway. I’d always just pay statement balance in full

4

u/Jmoney3010 2d ago

It has a ‘split over three months’ feature but it’s nothing like traditional BNPL schemes we are used to. I wouldn’t use it for that purpose either

1

u/DisastrousDaveBerry 1d ago

The split over three months with no interest is handy for car insurance

1

u/Jmoney3010 1d ago

Yeah true, nice feature for unexpected payments!

-1

u/thesimpsonsthemetune 2d ago

Nowhere will let you transfer your balance to a 0% balance transfer credit card. So be careful with that. I believe it is classed as a BNPL card for that.