topic Re: Tally LOC now has an early preview release for Android in Personal Finance

Questions about Tally

Anonymous — Mon, 17 Sep 2018 19:09:34 GMT

I was wondering if anyone uses tally for their credit cards. When you apply for a line, is it a soft pull or hard pull? Which bureau do they pull from? Also, do they report history such as payments made to the line, balances, etc?

I’m asking because I’ve considered signing up for the service, but I’d prefer it not showing a new account added to my report and all of that other jazz.

Re: Questions about Tally

emily15 — Tue, 25 Sep 2018 13:53:04 GMT

Id like to know the answer to this also! Thinking about getting tally to save some interest on a couple of accounts but would like to avoid the ‘new account’ if possible. Hopefully someone answers!

Re: Questions about Tally

emily15 — Tue, 25 Sep 2018 13:53:37 GMT

Oh and it was a Soft pull, not sure where from yet..

Tally LOC now has an early preview release for Android

joltdude — Tue, 25 Sep 2018 23:42:06 GMT

Wasn’t quite sure where to post this because Tally loc is a meta-credit card of sorts but for those interested. Tally now is avalible as an early preview or a public beta in the Google app store

Re: Tally LOC now has an early preview release for Android

Anonymous — Fri, 28 Sep 2018 05:48:11 GMT

It seems like a good idea, but I’m a little confused how they pay off your cards or just how tally works in general. I never heard of tally until stumbling across your post. I wonder will you know apr before accepting loc? How long do you have loc?

Re: Tally LOC now has an early preview release for Android

joltdude — Sat, 29 Sep 2018 07:33:12 GMT

Basically you pay tally and Tally pays your cards...

If it sees a balance on a card with a higher APR than its own it will transfer it to itself...

There was a thread about it awhile back...

https://ficoforums.myfico.com/t5/Personal-Finance/Anyone-use-Tally/td-p/4921496

https://ficoforums.myfico.com/t5/Personal-Finance/Questions-about-Tally/td-p/5359798

Iv had the account for at least a year now... (back when it was IOS only)..

I'm going from memory but the interface has/is changed from the initial signups... I was told the APR offered before i accepted it...

Its somewhat hidden and it was a SP to app if i recall... It's been awhile since iv signed up.. and i have used it a couple of times...

Do realize you need a decent score to get approved.. 660 and up, And since the prime has gone up.. so hasn't Tally....

The other.. I was hoping for an occasional CLI increase or an offer for a better APR tier esp on this kinda product based on scores.. Still haven't seen either of those...

I like it.. its not as good as playing the BT roulette game but you know its avalible, and its a lot less hassle, and you do save a little bit on balances)

-J

(Mods can someone tag @Anonymous to see if they can add to this thread since the product has changed since its release and see if they would add their insight)

Re: Tally LOC now has an early preview release for Android

UncleB — Sat, 29 Sep 2018 07:33:51 GMT

@joltdude wrote:

(Mods can someone tag @Anonymous to see if they can add to this thread since the product has changed since its release and see if they would add their insight)

Done.

Re: Questions about Tally

joltdude — Sun, 30 Sep 2018 03:08:26 GMT

Theres actually an old thread on Tally and a new thread on Tally

The older thread

https://ficoforums.myfico.com/t5/Personal-Finance/Anyone-use-Tally/td-p/4921496

The new thread also announcing their Android software as well...

https://ficoforums.myfico.com/t5/Personal-Finance/Tally-LOC-now-has-an-early-preview-release-for-Android/td-p/5367005

Also have contacted them on social media to poke them to come back here since folks are curious about their product again..

-J

Re: Questions about Tally

Anonymous — Fri, 05 Oct 2018 23:52:02 GMT

I recently applied and it is a soft pull from Experian. I haven’t starting using my line yet but from what I read it’s a hidden trade line (like PayPal credit).

I guess I’ll find out soon if it shows on my report. It’s been one week since approval.

Re: Questions about Tally

emily15 — Sat, 06 Oct 2018 04:18:06 GMT

Yes thank you! I confirmed with a Tally rep they do not report to CB

Questions about Tally?

EaglesFan2006 — Mon, 17 Jun 2019 10:40:49 GMT

Has anyone used Tally? I downloaded the app thinking it was kind of like Mint, but that it would tell me the best way to pay my bills to save money. I didn't realize it was a line of credit...so I stoppped signing up. How does it work, they give you LOC to pay your bills, but they also say to keep using cards to 'earn rewards'? Has anyone whose used it found it worthwhile?

Re: Questions about Tally?

Anonymous — Sun, 07 Jul 2019 13:42:53 GMT

https://ficoforums.myfico.com/t5/Personal-Finance/Anyone-use-Tally/m-p/4921496

Re: Questions about Tally?

Anonymous — Tue, 09 Jul 2019 14:16:28 GMT

Tally is a revolving line of credit, so its bascially just another credit card that has a limited, and uses that limited to pay the minumum payments on all cards, and use the rest of the limit to pay down the balance of your credit card with the highest APR. Everytime you make a paymnet to tally ( which is every month) you Tally line of credit opens up since its revolving.

Re: Questions about Tally?

joltdude — Tue, 09 Jul 2019 15:26:06 GMT

There is a feature of Tally that isnt mentioned... Other than its a metacredit card or line of credit... it is a hidden trade line ....as well as usually competitive rates to your other cards.... This can help out if your trying to pay things down and improve utilization... also tally wont pay off another card unless the rate is higher than tallys... Still better off working 0% and BT offers on top of using tally but the hidden tradeline portion can be useful in some circumstances.. The balance you have on tally does NOT appear on your CR.......

-J

Re: Questions about Tally?

Anonymous — Tue, 09 Jul 2019 17:27:47 GMT

How do you learn your LoC? After you've listed your CC info, or before?