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Tally Review 2023: Is Tally Legit & Really Worth it?

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Tally Review

tally logo

Tally is a mobile money management app that aims to help people manage their finances and get out of debt. The platform claims to help people pay off their credit card debts 2 times faster. Tally works by paying off your credit card debt first, then charging you monthly payments on your debt at a lower interest rate than the bank. Thus, this enables you to save on credit card interest rates.



Legit & Safe


Saving Potential

Ease of Use


  • Get out of debt up to 2 times faster – Tally claims to help users save up to $4185 in 5 years by loaning them money at a lower interest rate.
  • Combine all of your payments for convenience – when you add all your credit cards and debts to Tally, you will only have to pay 1 bill each month.
  • Avoid late fees on your credit card bills – Tally pays all your credit card bills 2 days before they are due, so you don’t incur any late fees.
  • Low minimum FICO score – anyone can join the app as long as they have a minimum FICO score of at least 580, which is considered relatively low.


  • High monthly fees – the app costs $25 per month. This fee is paid annually from your credit line, so there are no out of pocket payments required
  • Not available throughout the United States – the app is not currently available in the states of Maine, Montana, Nevada, West Virginia, and Wyoming.

Jump to: Full Review

Compare to Other Money Saving Apps


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How Does Tally Work?

Using your FICO score, Tally saves you money by figuring out which cards have the highest and lowest APRs and lets you pay down your credit cards faster. Afterwards, it bundles your credit cards into one payment that offers a lower interest rate and a late fee protection guarantee. 

What’s best about Tally is that you’ll save money immediately when Tally pays your high-interest credit cards. The app saves you money by combining all your credit cards into a single payment at a lower interest rate. 

Let’s break down how the Tally app really works in simple steps:

StepWhat’s Done?
1. Tally gives you a credit lineTally analyzes which credit cards you’re using and looks into your credit card profile to find the best offer for you.
2. Tally pays your credit cardsThe app helps you save money on your interest by using your Tally credit line. Tally also provides late fee protection, which guarantees that you never miss any payments.
3. You repay Tally every monthRegardless of how many cards you have, you only make one payment to repay Tally, because Tally manages all your cards.
4. Tally keeps saving you moneyAs long as you pay Tally back, they keep paying for your cards and saving you money until you’re debt-free.

How Much Can You Save with Tally?

So how much in total can I save using the Tally app, you might be wondering. The answer is, Tally can help you save an average lifetime savings of $5,300 on interest as well as build your income.

For example, let’s say you have a debt of $8,000 across 2 credit cards. Tally can extend your $5,000 line of credit at 11% APR, reducing the amount you have to pay on the debt long-term. In the end, you’ll make a single payment to Tally for paying for all your credit card debts.

Who is Tally Best for?

The Tally app is best for you if you:

  1. Struggle to clear off your debts as it helps you sort out your balances on time. With Tally, you won’t miss out on payments and avoid increased interest rates for delayed payments.
  2. Trying to build a high credit score.
  3. If you’re young, employed, and have a credit score.

Tally Fees: How Much Does Tally Cost?

The Tally app is free to download and they don’t charge any fees to use the app.

However, Tally charges you interest on the amount you borrow from them. So they only charge you when they save you money – pretty fair, right?!

Having said this, there’s no annual fee, no origination fee, no prepayment fee, no transfer fee, late fee, or over-limit fee.

But how much does Tally charge you anyway? Depending on your credit history, your APR (same as your interest rate) will be between 7.9% to 29.9% per year.

When you link your cards with Tally, it monitors your balances, APRs and due dates for you. This way, it ensures you never miss a payment.

Tally Features: What Does Tally Offer?

Tally Credit Card Manager

Depending on the number of credit cards you have, Tally makes them easily manageable despite their APRs and balances. 

Moreover, they clear all of the card balances on time.

Debt Manager

This feature tracks your spending habits, analyzes your balances and recommends a payment that will get you out of debt within the shortest time possible.

The Tally advisor personalizes your plans depending on your preferences. 

Late Fee Protection

All credit cards signed-on Tally are registered with the late fee protection feature. Even if you haven’t made a payment, Tally settles the minimum payment amount for every account on your behalf. 

Line of Credit

Once you’ve registered your cards, Tally transfers your high APR balances to a Tally Line of Credit. As your APR gets lower on this Line of Credit, your savings can settle other outstanding credit card balances. 

Save Money on Interest

Tally makes it easier for you to come up with the quickest way of getting out of debt. Since you don’t spend on extra charges incurred through late and delayed remission, you’re in fact maximizing your savings.

Tally Debt Calculator

Tally gives you the chance to calculate the amount of interest you spend on your credit cards through the Debt Calculator. 

You’ll get a series of 3 questions:

The first question Tally asks you is your credit card score. If you’re above 660, you stand a chance to qualify. Anything below this score won’t get a green light for a Line of Credit. 

The second question is about your credit card balance and its APR. 

Finally, you need to provide the amount of collective payments settled to your cards in the past month.

After answering these 3 quick questions, you’ll receive your estimated amount of interest on your given accounts.

Tally Customer Service

When the question of finance arises, it’s always necessary to have an effective avenue to reach out to your service provider. I bet you agree. 

Tally provides an email address with a customer service team available during the weekdays from 8 am to 5 pm.

So whether you have a question or faced an issue of any kind, you can contact the Tally app customer service via email at

Tally Requirements

Tally requirements are extremely simple – you just need to have a minimum FICO score of 580 to use the app.

Tally Payout Terms and Options?

Tally is a debt automation app that helps users manage several credit cards in one place hence does not have payout terms and options.

Tally Risks: is Tally Safe to Invest with?

Tally has a SSL encryption that ensures it does not store any of your personal information such as credit card accounts and passwords. This feature also protects your accounts from third-party users.

How Does Tally Protects Your Money?

Tally uses 256-bit encryption to keep your money safe.

What Kind of Services Does Tally Offer?

Tally Advisor

The Tally Advisor is probably one of the reasons why you should consider Tally in the first place. It’s a built-in AI system that manages your debt by offering a monthly payment recommendation based on your spending data.

Tally Pays

Tally Pays is the service that actually solves your debt puzzle. Simply put, it pays off your issuers two days before the due date every month.

It’s more or less like paying a lower issuer to take out the debts given to you by the higher-rated issuers, got it? 

You Pay

The You Pay option helps you organize your card payments by giving you an estimated date of when the payment arrives. Alternatively, you can send the return straight to your issuer through their website or app.

Tally recommends that you pay seven business days before your due date.

Tally Reviews: Is Tally Legit?

Tally App is a legit company, holding SIPC insurance. Although Tally is not BBB accredited, on the App Store, Tally App has a rating of  4.7 while on Google Play it has a rating of 4.5 with mostly five-star reviews and positive customer sentiments. 

Many high ratings revolve around the app’s user-friendly interface, friendly customer support, and social features. Other reviewers also praised the community aspect of the platform. Some of the negative reviews complain about long wait periods for withdrawing money, bad service, and a glitchy app experience. 

That said, Tally App is a legit platform that makes it easy for you to invest any amount of money in companies that you love while doing it commission-free.

Where is Tally Available?

The Tally app is available in the following US states, including:

  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Washington DC
  • Florida
  • Georgia
  • Illinois
  • Idaho
  • Iowa
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Missouri
  • New Mexico
  • New Jersey
  • New York
  • Ohio
  • Oregon
  • Oklahoma
  • Pennsylvania
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Washington
  • Wisconsin

However, if you don’t reside in any of these states, you can still download the app and consider joining the waitlist. 

What Credit Cards Work with Tally?

Tally supports consolidation of credit cards from a range of banks, including:

  • American Express
  • Bank of America
  • Barclays
  • Capital One
  • Chase
  • Citibank
  • Discover
  • Fifth Third Bank
  • First Bankcard
  • PNC Bank
  • U.S. Bank
  • Wells Fargo

Tally Pros & Cons

Tally Pros

  • Easy management of different credit cards 
  • One monthly credit card bill – regardless of the number of your cards, one payment covers them all. 
  • Late fee protection 
  • Tally recommends a personalized payment plan based on your spending habits.

Tally Cons 

  • A Minimum Score of 660 to qualify for the Tally app
  • It’s only available in 31 US states

Tally Review Verdict: Is Using the Tally Worth it?

Reviewing all the features the Tally app provides, along with its pros and cons, I’d say it’s worth using Tally if you’re tired of managing all your credit card debts.

But if you enjoy paying off your credit cards in full each month and never forget the due date, Tally may not be of value to you. 

So whether it’s worth using the Tally app to manage your credit card debts comes down to your personal preferences and financial behaviors.

Sites Like Tally

ApplicationTallyBalance TransferEarnestCredibleDigit App
FeesNoneUp to 3%Earnest do not charge origination, prepayment, early payment, or extra payment fees.Credible does not charge any fees$5 per month
Availability of an AppYesN/AYesNoYes
RequirementsA minimum FICO score of 580 to use the app.NoneA minimum credit score of 650, Possesses consistent income in USDFull name and address, U.S. citizenship or permanent resident status, loan amountNone
Where its available32 US StatesWorldwideWorldwideUSUS

Tally vs. Balance Transfer

One of the most common alternatives to consolidating your payments and getting out of debt faster is a balance transfer credit card. However, while Tally manages everything regarding your credit cards, opting in for the balance transfer option you’ll have to do it all yourself. Plus, it usually comes with an additional fee of 3% to 5%.

Tally vs. Earnest

Earnest is one of the best alternatives to the Tally app as the 2 apps offer quite similar services. However, unlike the Tally app, which is good to use for anyone, Earnest is focused on students. Accordingly, Earnest provides services to help you pay off your student loan faster and more conveniently.

Tally vs. Credible

Credible is an online platform helping you to get the best rates to refinance your student loan. However, unlike the Tally app, Credible doesn’t manage your credit card fees and due dates. It only helps you find the lowest interest rates to pay off your student loans.

Tally vs. Digit App

Digit App Summary

  • Helps you save money automatically and pay off debts efficiently
  • Offers overdraft protection
  • Savings bonus of 0.10% annually when you save consistently
  • Your funds are insured by the FDIC (up to $250,000)



A similar site to the Tally app is Digit app. It analyzes money coming in and out from your bank accounts. Based on your personalized savings controls, Digit app will let you know when and how much you can spare.

A similar site to the Tally app is Digit app. It analyzes money coming in and out from your bank accounts. Based on your personalized savings controls, Digit app will let you know when and how much you can spare.

Tally FAQ

What is Tally?

Established in 2015 by Jason Brown and Jasper Platz, Tally is a debt automation app that helps you manage several credit cards in one place. The goal is to help simplify debt management and make the repayment process easier.

Tally consolidates your credit cards into one low-interest line of credit so that you only have to make a single payment. This way, you can save on interest and fees.

What credit score do you need for Tally?

To qualify for Tally, you have to score at least 660 on the FICO score.

Does Tally affect your credit score?

Tally does not affect your credit score. It pays off high credit card APRs using a low APR line of credit reducing your interests and maximizing your savings.

How do I pay back Tally?

Each month, Tally sends you an email with a statement having the amount you’re supposed to bill. You pay directly to their account through a checking account. 

Can I cancel Tally?

Absolutely! Just contact Tally at (866) 50-TALLY or to get your membership canceled.

Does Tally hurt your credit score?

While Tally does not affect your credit score, if you select You Pay rather than Tally Pays and fail to make an on-time monthly payment to the card issuer your credit card score could be hurt.

Tally uses your line of credit to pay off or pay down the card with the highest interest rate. This can take up to three business days.

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Kate Starr


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