What’s a Tally line of credit?
Your Tally line of credit is an important tool in paying off credit card debt. Once you download Tally and scan the credit cards you’d like us to manage, we analyze your credit profile to determine if Tally can offer you a line of credit with a lower APR than you’re currently paying — and that helps you save money.
How does Tally use my line of credit?
How do I know if I qualify?
What else should I know?
Instant savings with a lower APR
Your Tally line of credit often has a lower APR than you’re currently paying, somewhere between 7.9% and 25.9% per year. If you have a credit card with a promotional rate or a lower APR than your Tally line of credit, we’ll only make the minimum payment toward that card’s balance until the rate expires.
How it's different from a personal loan
Unlike a personal loan, your Tally line of credit is open-ended (known as a revolving line of credit). A personal loan provides a set amount of money and a repayment schedule over a set amount of time, but your Tally line of credit gives you more flexibility. Best of all, you only pay interest on what you borrow.
If Tally can’t offer me a lower APR
We won’t always be able to offer you a line of credit with a lower APR, but you can still add your cards into the Tally app and get the benefits of managing all of your credit card payments in a single app. Plus, Tally’s late fee protection ensures you’ll never miss a credit card payment again.