Is the Tally App For You?

I’ve received some questions about the Tally app that manages credit card debt, so I thought breaking down the facts might be helpful to my valued blog subscribers.

Tally is an app designed for getting people out of debt faster and saving money on high interest by prioritizing their account payments, setting up auto-pay, and making sure they never pay late.

Tally is NOT a debt consolidation service. (Which is good.)

Tally does NOT negotiate payments or collections.

If you have five or ten credit cards, all with balances, and you are struggling to get them all paid off, and you are wasting money on the high interest charges, and all of this is stressing you out, then Tally can help.


#1 If your credit score is 580+ and qualifies, then Tally will offer you a Line of Credit to pay off all your debt. This gives you one payment at a lower rate. Their best rate is 11.99% APR, which is lower than many credit cards. If you’re paying 18% to 24% on credit cards, this will help a lot.

The Line of Credit has an annual fee of $300 which is paid out of the LOC itself, not cash out of pocket.

#2 App Only, No Line of Credit

If the Line of Credit doesn’t make sense for your situation or your credit doesn’t qualify, then you can use the Tally app to set up automatic payments. Tally will prioritize which of your accounts should be paid off faster first in order to save you the most money. It also prevents you from getting late fees and eliminates the time and stress of paying all those accounts manually.

The monthly fee for using the app is $4.99.

Better than Tally is if you don’t need Tally! If you follow Build and Protect Your Credit Like the Pros, then you do not carry a balance month-to-month, and you do not overspend for your budget. You are pay $0 in credit card fees and 0%. However, not everyone is in that favorable situation at this moment.

For people who benefit more than $5/month, then using Tally can be a great help. Lots of people are using it and are very happy.

The goal is to use Tally until you don’t need it anymore.

Once your credit and finances are back on track, then you can say, “Thank you and goodbye” to Tally.

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