Monzo and Fair4All Finance team up to expand affordable credit access in the UK

Monzo and Fair4All Finance have announced a new partnership to improve access to affordable credit in the UK. The collaboration targets the 16 million adults currently facing borrowing difficulties, a figure that has risen by 30% since 2018. At the centre of the initiative is Monzo’s Flex Build credit card. Designed for customers with low or limited credit scores, it offers an initial limit of up to £250 after a one-time deposit. Customers who make regular on-time repayments can double this limit over time.

The card provides 0% interest if the balance is paid in full each month. For those spreading costs, the APR is 39%. Flex Build also helps users build a repayment history, enabling them to progress to mainstream credit.

Fair4All Finance supports the scheme with a partial lending guarantee of up to £7 million. This reduces the risk for Monzo when lending to customers with poor or limited credit histories. Both organisations will share their findings with policymakers and the wider industry to shape more inclusive lending products in the future.

Monzo was selected as the first partner for Fair4All Finance’s Small Sum Lending Pilot. The goal is to expand affordable credit options to thousands more people across the UK. The partnership will offer more individuals a route to affordable borrowing. It also aims to influence broader industry practices through shared insights. Flex Build provides a structured way for customers to rebuild credit while accessing small sums at manageable terms.