Member Spotlight: Ra'Chelle Pays Down Debt, Avoids Late Fees, and Travels with Tally

During the pandemic, hospitals across the country needed additional ICU care. Ra’Chelle, the mother of 6-year old twins, moves around the country every few months with her husband, who happens to be a traveling ICU nurse. With nursing in such high demand, Ra’Chelle decided to leave her job as a high school guidance counselor so her family of four could travel around the country. 

“We are a family who loves to travel, and we are always on the go hiking, exploring and creating new adventures,” explains Ra’Chelle. 64% of Americans said their most recent move was one of the most stressful events of their life. For Ra’Chelle, it’s business as usual. While moving makes for many adventures, it can also bring stress, confusion and even a missed credit card payment or two.

The impact of missed payments

“Since we are always on the move and sometimes between work contracts, we use our credit cards to continue our adventures. And while making payments has been easy, trying to keep up with multiple due dates has proven to be the tough part,” Ra’Chelle says. 

A missed payment can incur late fees and impact a person’s credit score. The maximum late fee on a credit card payment can be anywhere between $28 to $39. A late fee will also be reflected in your credit score, as payment history makes up 35% of your credit score.

If a loan or credit card payment is late by 30 days, it’s considered a missed payment. The longer it takes to repay that missed payment, the more it could impact your credit score. A payment past 30 days late can stay on your credit report for up to seven years. 

In many cases, a credit card company will waive your late fee if it’s the first time. But, miss your due date a few times? You’ll rack up fees and drive down your credit score.   

The chaos of multiple moves made it hard for Ra’Chelle to keep up with multiple credit card due dates. To make things easier, she started searching for a tool to bring peace of mind. 

Getting organized with Tally

Ra’Chelle utilizes Tally to help keep her due dates organized, “Paying one bill for multiple cards is amazing!”

With Tally, you can compile multiple credit cards on one app, even if their balances, APRs, or due dates differ. Just pay one monthly bill to Tally and you’ll avoid missing the individual due dates.

For someone busy planning family adventures, Tally has been a major time-saver, says Ra’Chelle. In addition to the streamlined payment process, Tally “applies my money where I need it the most,” she says. “It ensures I get out of debt faster and that payments are made on time.”

Saying goodbye to late fees and confusion

Without the fear of late fees, Ra’Chelle is focusing on spending time with her family and planning their next travel destination. Her advice for those looking to organize her finances? 

“Know your APRs and make sure you don’t use more credit than you can handle.”

If multiple credit card bills are stressing you out, consider Tally† to help streamline the debt repayment process. 

​​†To get the benefits of a Tally line of credit, you must qualify for and accept a Tally line of credit. The APR (which is the same as your interest rate) will be between 7.90% and 29.99% per year and will be based on your credit history. The APR will vary with the market based on the Prime Rate. Annual fees range from $0 - $300.