Heidi Rivera
Written by
Rhys Subitch
Edited by
Updated on January 25, 2024
Advertiser Disclosure
You have money questions. Bankrate has answers.
Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate is an independent, advertising-supported publisher and comparison service. We arecompensatedin exchange for placement of sponsored products and services, or when you click on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. However, this compensation in no way affects Bankrate’s news coverage, recommendations or advice as we adhere to stricteditorial guidelines.
Our advertisers do not compensate us for favorable reviews or recommendations. Our site has comprehensive free listings and information for a variety of financial services from mortgages to banking to insurance, but we don’t include every product in the marketplace. In addition, though we strive to make our listings as current as possible, check with the individual providers for the latest information.
Editorial integrity
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Editorial Independence
Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a stricteditorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
At a glance
Find my best rate
Get offers from top lenders
Not all displayed lenders are available for pre-qualification through Bankrate, and we cannot guarantee any specific rate. We’ll provide you with the best offers available from our partners.
4.7
Rating: 4.7 stars out of 5
Bankrate Score
Availability
Rating: 5 stars out of 5
5.0
Affordability
Customer Experience
Rating: 4.4 stars out of 5
4.4
Transparency
Rating: 4.6 stars out of 5
4.6
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
About Bankrate Score
Full methodology
Tally Technologies, Inc. is a digital platform designed to help consumers pay off high-interest credit card debt. The company is headquartered in San Francisco, California and has served millions of customers since its inception in 2015.
Lender Details
Loan amount
$2,000-$20,000
APR from
12.99%-29.99%
Term lengths
Revolving
Min Credit Score
580
Best for those with good credit looking to consolidate credit card debt
Tally doesn’t charge any origination fees, late payment fees or prepayment penalties for its credit lines. This, combined with its competitive starting APR and low monthly payment, can make it a more cost-effective choice to consolidate high-interest credit card debt if you have good or excellent credit.
Tally pros and cons
PROS
Low rates.
No fees.
Flexible consolidation.
CONS
Not available in every state.
Limited to credit card debt consolidation.
Variable rate.
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.
How this lender compares
Rating: 4.7 stars out of 5
4.7
Bankrate Score
APR from
12.99%-29.99%
Loan Amount
$2,000-$20,000
Term Length
Revolving
Min Credit Score
580
Compare ratesArrow Righton Bankrate
Rating: 4.8 stars out of 5
4.8
Bankrate Score
APR from
7.80% – 35.99%
Loan Amount
$1,000 – $50,000
Term Length
36 or 60 months
Min Credit Score
Not disclosed
Read our reviewArrow Righton Bankrate
Rating: 4.6 stars out of 5
4.6
Bankrate Score
APR from
11.72%-17.99%
Loan Amount
$5,000-$40,000
Term Length
24 to 60 months
Min Credit Score
640
Read our reviewArrow Righton Bankrate
Tally vs. Upstart
Upstart allows you to lock in a fixed rate and repayment term for its loans, while not having the same credit restrictions as Tally. This, along with its lower starting rate, can make Upstart a better debt consolidation option for those who want to lock down a rate and pay off a larger amount. That said, Upstart does charge an origination fee, in addition to other fees, which could decrease your savings.
Tally vs. Happy Money
Happy Money offers loan amounts that are much more flexible than those offered by Tally’s, with a maximum cap of $40,000. However, Happy Money’s starting rates are higher than Tally’s, and Happy Money charges an origination fee. Still, Happy Money’s consolidation loans can be a great option for those looking to consolidate cards not covered by Tally.
Tally: in the details
Loan Amount
$2,000-$20,000
APR from
12.99%-29.99%
Min. credit score
580
Term lengths
Revolving
Funds available in
As soon as you accept the offer.
What we like and don’t like
What we like
- Low rates: Tally’s interest rates start at 7.90 percent, which is much lower than the average credit card interest rate. If you have excellent credit, that means you can save hundreds — or even thousands — down the line on interest alone.
- No fees: Tally doesn’t charge origination fees, late payment fees or prepayment penalties. This can make its credit lines more cost-effective than other consolidation options.
- Flexible consolidation: Borrowers can add other cards to their consolidation plan as they pay off their balances — something you can’t do with a traditional consolidation loan.
What we don’t like
- Not available in every state: Tally is only licensed in 26 states and Washington, D.C. If you live outside of any of the licensed states, you won’t be eligible for its products.
- Limited to credit card debt consolidation: You can only use Tally’s credit lines to consolidate credit card debt. Additionally, not all bank credit cards and store cards are supported.
- Variable rate: Tally offers credit lines — a form of revolving credit — so they don’t have a set payoff date and interest can fluctuate based on market conditions. Both factors could worsen your situation if you fall back on bad spending habits and continue to use your cards after transferring your balances to Tally.
How to contact Tally
Tally’s customer support team is available via email at [email protected]. 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
How Bankrate rates Tally
Overall Score 4.7 Explanation Availability 5.0 Tally offers quick funding and flexible repayment terms for credit card debt consolidation. Affordability 4.8 Tally’s lines feature competitive interest rates and no fees. Customer Experience 4.4 Tally’s customer support team is only available on weekdays, with limited service hours. Transparency 4.6 Tally doesn’t disclose all of its credit requirements. 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.
On This Page
On This Page
- At a glance
- Pros and cons
- Do you qualify?
- How this lender compares
- In the details
- How to contact Tally
- How to apply
- Frequently asked questions
- Our rating
- Methodology
Compare Rates
Up next
Read morePersonal Loans Reviews
`; return [container, script]; } if (isLast) { window.dispatchEvent(brDataStoredEvent); } }); }); }
