When you sign up for Tally, the company reviews your credit history to determine whether you’re eligible for a line of credit. If you’re approved, you’ll get a set line of credit that automatically pays off your credit cards. Then, rather than pay those cards back each month, you pay Tally back – ideally at a lower rate than your cards. For example, rather than paying 20.99 percent, 18.49 percent and 17.99 percent on three different credit cards, Tally will analyze your credit to determine if they can offer you a deal with a lower interest rate to save money. The APR that you’ll pay with Tally is 7.90 percent to 29.99 percent.
It’s also a great fit if you have trouble keeping up with the due dates of multiple credit cards. Even the free membership with no line of credit offers valuable features to help you develop a strategy for paying off your bills.