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