Anyone use Tally?

[Creditaddict]

it's called meettally and you load your credit accounts and then they do a sp to see if they can offer you a Tally Credit Line to pay your credit cards and save you interest I'm gathering so far... They talk of being on a wait list but when it came across my Facebook last night I downloaded it and I was able to continue, my friend downloaded it minutes after me as I told him to and he is on the waitlist.  I added a Capital One account and a Chase account to test it as it says I'm not very likely to qualify with the score range I told them but when it goes to do the sp check if I qualify it's giving an error and they are closed today so I will try again tomorrow and see but it's interesting to me.  Almost seems like an instant personal line of credit for as low as 7.9% with a sp which in theory could be amazing!

[Anonymous]

Haven't tried it but looks like it could be helpful for some situations...

But with so many balance transfer promos out there today (even on already existing cards), I'm not sure it makes sense unless you:

1. Already have all your BT promos used up

2. Also have a significant utilization on higher interest cards

I would think that folks in that situation wouldn't have good enough credit to qualify for the lowest rates Tally offers.

[yfan]

Interesting idea. Not bad, even. But it's not much more than having a funded checking account that autopays your bills, if you pay all your cards on time and in full. You could set that up with your own bank's bill pay, so I'm not sure why Tally would matter, except that it's another flashy app.

If you do carry balances, however, Tally would be fantastic in that it would help you consolidate your lines and lower interest.

[grillandwinemaster]

My guess is that Tally is geared towards those that HAVE acquired credit card debt for some reason or another and CAN'T get a 0% bt offer.  Myself included...

I'll be watching this thread to see how it all turns out

[Creditplz]

"Currently Tally is limited to customers who get approved for a Tally Credit Line. The approval is based on typical criteria such as your FICO score, debt and income. As of April 2016, our minimum FICO score is 660."

They give you a Fico score criteria which is nice

[Anonymous]

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@grillandwinemaster wrote:

My guess is that Tally is geared towards those that HAVE acquired credit card debt for some reason or another and CAN'T get a 0% bt offer.  Myself included...

I'll be watching this thread to see how it all turns out

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That makes sense.

Since they say it's an SP credit check, why not go for it and see what rate they offer you? You can be the test case! 

[Anonymous]

Before any one jumps off the bridge ... have any of you found "online" the terms & conditions for the Tally Line of Credit? I searched long and hard ... seems not to be available. One should totally read and understand before signing up!

[Creditplz]

I tried finding it but it only has the APR ranges, no originating fee etc

[Creditaddict]

I am trying! The system seems to be down or something, gives an error at sp

[grillandwinemaster]

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@Creditplz wrote:
"Currently Tally is limited to customers who get approved for a Tally Credit Line. The approval is based on typical criteria such as your FICO score, debt and income. As of April 2016, our minimum FICO score is 660."

They give you a Fico score criteria which is nice

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It's good to have a fico range.  Any idea which bureau?  Which model?  Hopefully TU, but I doubt it.