Monarch is able to provide credit card and loan statement balances and due dates through our partnership with Spinwheel. This information comes in via your Equifax credit report and is one of the most reliable ways to provide statement balances.
Read on for more detail about Spinwheel’s data and privacy policies and answers to some other questions you may have.
Both Spinwheel and Monarch use bank-level security to help protect your data. We will not share any information pulled from your credit report. Read more about our data privacy and security practices here and in our privacy policy. You can also learn more about how Spinwheel protects your data here.
You have full control — you can choose to disconnect from Spinwheel and delete your synced data at any time by going to Recurring > Manage recurring > Manage your synced accounts. You should see a “Disconnect Spinwheel” button in the top right corner you can click to disconnect and delete your data.
Because Spinwheel does a soft pull of your credit report to obtain statement balances, it will not affect your credit in any way.
Our third-party vendor Spinwheel is powered by Equifax and pulls various information from your credit report to surface liability account details. This gives us the most up-to-date and accurate information available about your credit card and loan bills.
Some apps may try to provide this information by asking for login credentials to your biller, but these connections are often blocked or are unreliable. We’ve found that using a partner such as Spinwheel to provide statement balances via your credit report is a more reliable way to get this information.