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This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.

Tally Personal Loans Review

David Cole David Cole Last update:
Est. APR
7.90 - 29.99%
Max loan
$25,000
Term
Revolving

Tally was launched in 2015 and has saved its members millions of dollars on credit card interest and late fees. Its sole purpose is to provide a platform to help people take back control of their credit cards, eliminate late fees, and ultimately reduce their card balances down to zero.

Tally may offer you a personal credit line (OAC) at a lower interest rate than you’re paying now on your credit cards. Tally will use the credit line to pay off your cards with your approval. The lower interest credit line rate results in immediate overall savings compared to your credit cards.

This is all done using a free mobile app (iOS / Android) which makes opening your account a breeze.

Tally Loan Types and Terms

Loan types Personal Loans
Loan amount $2,000 – $25,000
Repayment terms Revolving
APR 7.90 – 29.99%
Minimum credit score 580 FICO
Lender type Direct Lender
Good for: Credit card debt resolution

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Good For:

  • A structured way to manage and pay off credit card debt
  • Learning how to manage future debt

Tally Pros

  • Tally is a good option if you are battling credit card debt between $2,000 – $25,000
  • An especially good fit if you have a credit score of 660+
  • If you would love to never see a late payment penalty again
  • The convenience of a single monthly payment toward your credit line
  • A lower credit line APR than your credit cards – saving you interest charges

Tally Cons

  • Not for anyone who has a FICO score of less than 580
  • Not available for all credit cards
  • Not available in all states

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Tally Programs

Tally Membership is the first tier of service that starts your journey towards financial peace of mind. Once you link your cards, Tally will show you the most innovative way to pay them off. Tally also notifies you to make your payments before the due date. For your convenience, you can pay your cards via the Tally app. Tally Tuesdays is an optional program that enables you to get into the weekly habit of paying towards your card balances.

TALLY BASIC activates your credit line to pay off your credit cards. Credit line amounts generally run from $2,000 – $25,000. Tally’s goal is to offer you a credit line with a lower interest rate than what you are currently paying on your credit cards. You can still use your cards, so the Tally Pay feature will make your card payments on time, avoiding late payment penalties.

TALLY+  provides access to a larger credit line for more significant card balances. You may also qualify for a further APR reduction. This membership level costs $300 per year, but you aren’t billed directly; instead, the annual fee is deducted from your credit line. You also can choose to downgrade your membership.

Application Process

  1. Step One: Download the Tally app to your phone
  2. Step Two: Open your account with basic personal information, email, and password.
  3. Step Three: Tally will ask you to allow them to make a soft credit inquiry to determine your FICO score and make you an offer. *This does not impact your credit scores in any way.
  4. Step Four: You can either accept or reject their offer. If you do not accept it, you will still have access to your dashboard. Tally will send you emails to remind you of card due dates, and you can monitor your progress in paying down your cards.
  5. Step Five: If you approve Tally’s offer, you will link your bank account so you can make your payments on the credit line.
  6. Step Six: Tally will now pay off the balances on credit cards starting with the highest APRTerms & Requirements.

Loan Requirements

  • You must be 18 years of age or older
  • US citizen or visa holder
  • Currently employed
  • Tally must be licensed to do business in the state in which you reside
  • You must have at minimum a 580 FICO score * Your score will determine the interest rate of the credit line if offered

Loan Terms

  • Depending on your FICO score the rate of interest on a credit line offered will average between 7.90 – 29.99%
  • The credit line is revolving. You can keep it open for an indeterminate length of time, reduce it through larger payments or pay it off completely at any time.
  • Tally also saves you money by not charging any extra fees for example; origination fees, prepayment fees, or balance transfer fees.

Privacy & Security

Tally has a privacy policy available on their website which covers in detail how they protect your personal information.

In essence, Tally never stores your banking usernames or passwords, and they never sell your data. On top of that, they use 256-bit encryption to keep your information safe. To review scroll down to the footer and click the Privacy Policy link.

Customer Support

Member support team Monday – Friday 8 a.m. to 5 p.m. via email.
The FAQ page is accessible by clicking on the “Help” link on the website.

Tally is currently available for residents in 30 states and Washington D.C. They are Arizona, Arkansas, California, Colorado, Connecticut, Washington DC, Florida, Georgia, Illinois, Idaho, Iowa, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Mexico, New Jersey, New York, Ohio, Oregon, Oklahoma, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, and Wisconsin.

Final Thoughts

Credit cards make it easy to get into debt and very hard to get out. Research has shown that by just paying the minimum amount due, it can take upwards of 25 years to reach a zero balance.
There is no reason to feel overwhelmed or powerless when it comes to debt. All that you are missing is a proven step-by-step plan and a method to execute your plan.

If what you have been doing is not working, you need to employ a different strategy to get your credit card debt off your back. Check out Tally, and you will find that the program has complete transparency and you maintain 100% control. Their internal studies have shown that members get out of debt 2X faster than other methods.

Address

MAIL: P.O. Box 411165, San Francisco, CA 94141
PHYSICAL: 375 Alabama St #325, San Francisco

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Tally disclaimer: 

Disclosure
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.
David Cole David Cole
For over 17 years, Dave has been a business coach, teaching owners how to succeed in the digital economy. He is also an in-demand speaker for webinars and live events covering various business topics dealing with Internet marketing. Dave is also the author of a course on using LinkedIn to find your ideal prospects. He is an avid outdoor photographer and hiking enthusiast living in the desert southwest.
This review is based on the writer's personal opinion.