Tally App Review 2022: Consolidate Your Credit Card Debt

Our Take

Tally is a good choice for users who want to pay off their credit card debts at a lower interest rate to avoid paying extra interest over the long run.

Users can save an average of $5,300 when using Tally app to consolidate their credit cards.

The downside? Tally charges additional membership fees to unlock extra perks.

Pros and Cons

ProsCons
Consolidate Credit Card Debts at Low Interest RateMay report payments to one of the 3 major credit bureaus
Offers direct payment to creditorsMay charge additional membership fees for extra perks
Automatically pays high interest credit cards first
Option to change your payment date
No hard credit pulls
Lightweight 21mb mobile app

What is Tally?

Tally is a mobile app that offers credit card debt holders a personal line of credit to consolidate debt across multiple credit cards.

The app uses an algorithm that focuses on the users’ highest interest cards first to help them get out of debt fast.

Line of credit amounts range from $2,000 to $25,000.

How Tally Works

To start consolidating your credit card debit with Tally, you’ll need to provide some personal and credit card information. Here’s how it works:

  1. Download the Tally App and set up an account. Tally will ask for your e-mail address and a secure password.
  2. Add basic information and get an approval decision. Enter a U.S. based address, birthday, annual income, mobile phone number, and authorize a soft credit check (which doesn’t impact your credit score). If approved, Tally will display your approved credit line amount and APR (annual percentage rate).
  3. Add Credit Cards. You can search for your credit card provider and link your credit cards. Tally uses Plaid to verify your credit information securely. You can also enter your credit cards manually and Tally will connect your accounts and analyze your balances.
  4. Accept The Offer. Accept the terms and conditions of the Tally offer you receive.
  5. Link Checking Account. Tally uses your bank account for repayments.
  6. Tally Pays Your Credits. With your final approval, Tally will pay the balances on any credit cards with a higher APR than your Tally credit line. In turn, you make monthly payments to Tally.

How Tally Pays Off Your Credit Cards

Tally works by

How to Qualify For a Tally Line of Credit

To meet Tally’s basic qualification requirements, applicants must:

  • Be a U.S. resident
  • Be 18 or older
  • Have a 580 or higher FICO score

Tally Membership Levels

Tally offers 3 different membership levels to its users.

Tally Basic Membership

Tally+ membership

Tally membership

Customer Support

Tally’s customer support team is available via Phone and Email. You can e-mail them and expect a response within 1 business day.

You can call Tally customer support Monday through Friday from 9am to 5pm PST.

The Bottom Line

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