Tally App personal lines of credit: 2024 Review

Do you qualify?

To qualify for a Tally credit line, you’ll need to meet the following criteria:

• Be at least 18 years old.
• Have at least one credit card.
• Have a verifiable source of income.
• Live in a state serviced by the company.

Tally also states that most users have a credit score of at least 680.

What Tally doesn’t allow the funds to be used for

Tally only allows its credit lines to be used for credit card debt consolidation. That said, not all bank and store credit cards are supported by Tally, which is something to keep in mind before going through with the application.

Tally: in the details

How to contact Tally

Tally’s customer support team is available via email at support@meettally.com. You can also get in touch by calling 866-508-2559, Monday through Friday, from 8 a.m. to 5 p.m. PT. 

How to apply for a personal line of credit with Tally

The application process for a Tally credit line only takes a few minutes to complete and won’t affect your credit, as the app runs a soft credit pull to determine your eligibility.

Features and additional perks

Tally’s standout feature is that you can transfer additional credit card debt as you pay off your credit line’s balance — something you can’t do with a traditional debt consolidation loan. It also analyzes your credit accounts to come up with a personalized payoff strategy that works for you. This strategy can be automated, with the app managing payment amounts and due dates for you.

Fees and penalties

Tally doesn’t charge any origination fees, late payment fees or prepayment penalties on its lines of credit. That said, if you want to become a Tally+ member, there’s an annual $300 fee, which is paid in monthly installments of $25.

This membership is completely optional and comes with an array of debt management tools to help you reach your financial goals. Tally+ members also get a discounted rate on their credit lines, which can further their savings.

Tally frequently asked questions

Methodology

To select the top personal loan lenders, Bankrate considers 20 factors. These factors include credit requirements, APR ranges, fees, loan amounts and flexibility to account for a wide range of credit profiles and budgets. Bankrate reviewed over 30 lenders and gave each a Bankrate rating, which consists of four categories:

• Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
• Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
• Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
• Transparency: This category is measured by how accessible credit requirements, rates and fees are on the lender's page. We also took into account whether prequalification was available, as all these factors are key for consumers to make an informed decision.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.