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  • Wealthtender is proud to include innovative financial technology companies like Tally among our advertising partners.

  • Wealthtender features many articles with ideas to help our readers pay down debts faster, and as Ben describes in this review, Tally is an app that may be worth considering to help get out of debt sooner.

  • Tally is free to download and doesn’t charge any fees to use the app. Tally makes money by charging interest on the amount borrowed. Tally only makes money if it can save you money.

  • Ready to check it out?  Click here to get started!

  • Already use Tally? Let us know in the comments section below!

Getting started with Tally

Getting started with Tally is relatively straight forward. After downloading the app, you’ll be asked to enter your credit card information. You can scan or enter your credit card info for each credit card you carry a balance on. 

 Tally-Screenshot - Saving for a rainy day

After you’ve entered your cards, Tally will check your credit history to ensure you are approved for a line of credit from Tally. If approved, you no longer need to pay your cards direct, Tally will do that for you and you simply pay Tally. Tally uses an algorithm to minimize the number of interest payments you make by making paying the right card at the right time. 

After that, you are good to go. You continue using your credit cards as usual and Tally advises you on how much you should pay and when. 

Using Tally

Americans collectively owe more than $ 1 trillion in credit card debt. Those who have decided to take action and pay off their credit card debt face two hurdles. 

  1. Deciding on a debt repayment strategy
  2. Staying motivated to see the task through to the end.

For someone who has multiple credit cards, it can be confusing to know which credit card to pay off first. They might be left wondering should I pay off the card with the lowest balance or the highest interest rate first?

Once they decide on a debt repayment strategy, paying off those high-interest credit cards can take years and many people will lose focus along the way. 

What I like about Tally is that it addresses both of these hurdles. 

Tally removes the guessing game of which credit card to pay off first by consolidating credit card debt into a single payment. 

The Tally advisor feature is like your own debt-repayment coach. It analyzes all your credit card debt and advises you exactly when to make payments and how much those payments should be to reach your debt-free goal. Tally also updates you on your progress and encourages you along the way.  

I wish a tool like Tally existed when I was paying off my debt. The hardest part of paying off debt is not knowing when you’ll finally be debt-free. I remember constantly feeling like I would never be out of debt and I would have to keep making monthly payments for the rest of my life. 

The feeling of hopelessness causes many people to give up and accept living with debt. Having a constant reminder on your phone every time you make an extra payment that you just got a few days or weeks closer to being debt-free is a huge motivator. 

Tally removes the guessing game of which credit card to pay off first by consolidating credit card debt into a single payment. 

Ease of Use

Like with any app that requires you to link bank accounts or credit cards, getting set up with Tally will require a bit more work than some apps. 

What I liked most about Tally

Personally, I have never seen an app in the Fintech space as useful as Tally. There are plenty of apps that help track your spending or net worth. Tally is the first app that I have seen that completely simplifies the debt repayment process while providing real-time feedback and encouragement along the way. 

Quote - Tally App Review

What I liked least about Tally

The main drawback of Tally is that it is currently only available in some U.S. states* and is not yet compatible with all credit cards.  

* As of October 2019, Tally is available in Arkansas, California, Colorado, Florida, Illinois, Massachusetts, Michigan, Minnesota, New Jersey, New York, Ohio, Texas, Utah, Washington, Wisconsin.

Who is this product for?

Tally is for anyone living in an eligible state carrying a balance on one or more credit cards. If you are ready to get out of debt and aren’t exactly sure about where to start or find the task before you too intimidating, Tally is definitely worth a look. 

Who is this product not for?

Tally is not for anyone living outside the U.S or anyone who does not have any credit card debt. 

Ready to give Tally a try?  Click here to get started!


Behind the curtain: The company and people who created the Tally app: 

Tally founders Jason Brown and Jasper Platz

Tally co-founders Jason Brown and Jasper Platz.

Disclaimer: The information in this article is not intended to encourage any lifestyle changes without careful consideration and consultation with a qualified professional. This article is for reference purposes only, is generic in nature, is not intended as individual advice and is not financial or legal advice.

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