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Tally Debt Consolidation Reviews 2023

Home » Tally Debt Consolidation Reviews 2023

Tally debt consolidation reviews, complaints and ratings

The Tally Debt Consolidation Review for 2023

Americans, on average, have four credit cards, according to Experian, and many find it confusing to keep track of different payment due dates and APRs. To simplify this, Tally debt consolidation is one option: you pay off multiple cards at once by consolidating them into one loan. However, it can be more complicated than it sounds, and you must be careful when choosing the right company for this service.

Tally Debt Consolidation was founded to help users make sense of their unsecured debt, create lower monthly payments for themselves, improve their credit scores in the long term, and reduce the stress around financial debt.

To help you in your evaluation of debt consolidation programs, the research team has reviewed Tally Debt Consolidation and provides that information for you below.

After reading the Tally review, check out this year’s Best Debt Relief, Settlement and Consolidation Companies List.

About Tally Debt Consolidation

Legal Name: Tally Technologies, Inc.

Industry: Financial Debt Consolidation Services

Address: 375 Alabama Street, San Francisco, CA 94110\


Phone: (866) 508-2558

Licensed? Yes, as a Supervised Lender 

In which states is Tally Available? Tally is available in all states except Nevada, Montana, Vermont, and West Virginia.

Certifications and Accreditations: n/a

What Is Tally Debt Consolidation?

Tally is an app that helps users simplify the process of paying off credit card debt, through debt consolidation. The app helps users both streamline and accelerate the process of paying down their credit card debt. Users can consolidate every single one of their monthly bills into a single, unified payment. Debt consolidation will help you manage the payments and repayments better and reduce the interest rate on your loans. It also enables you to eliminate any hidden fees that other lenders may charge.

The app works like this: Users are provided with a loan, which then goes to pay off their credit card bills. Users are then responsible for paying off the Tally loan in full. Like a credit card, the Tally loan is an open line of revolving credit.

Users can use Tally to pay off multiple debts at once or choose to pay off only one debt each month. Once a user has paid off a certain amount of money in a particular month, Tally automatically adds more money to the next month’s bill. This means users can easily add up how much they owe each month.

Over time, this can save a user thousands of dollars in interest fees, especially if they have multiple sources of debt. In addition, consolidating debt with a tool like Tally makes the organization of debts easier, payments become quicker, and the overall amount you pay for your loans becomes less.

How Does Tally Debt Consolidation Work?

When you register for Tally, the service checks your credit score to see if you are eligible for a line of credit through them. If eligible, you’ll be able to access a set line of unsecured personal loans to pay off your existing debt. You then use Tally instead of paying off your credit card bills each time they come due.

Ideally, you could use Tally to charge lower interest rates than your current credit card company. For example, if you are paying APRs of 20.99%, 18.49% and 17.99% on three different cards, Tally will look at your personal financial situation to see if they can give you a better deal by offering you one card with a much lower APR. With Tally, you’ll be charged an interest rate between 7.9% and 29.99%.

Membership with Tally comes in three different forms: 

  1. If you are accepted for a line of credit from Tally, Tally Basic allows you to pay off your balance at any time, The application will make your payments automatically and tackle the credit cards with the highest APRs. You can also use the “Late Fee Protection” feature. If you haven’t paid your bill in time, Tally takes care of it for you.
  2. Tally+: For $300 per year, deducted from your bank account, Tally+ offers a bigger loan limit, which could help if you’re struggling to pay off a large amount of debt. Members are eligible for an interest rate reduction after making 12 consecutive monthly payments; the company claims that the average APR is reduced by four percentage points.
  3. Members who aren’t approved for a Tally line of credit can still use the app’s debt management features for free, which include setting up automatic payments and reminders. Users can choose a debt-payoff strategy — for example targeting cards with the highest interest rate first — and Tally will help you follow it. The app can use a linked checking account to make minimum credit card payments to avoid late fees. This feature is available only to iOS users.

What Type of Accounts Qualify for the Tally Debt Consolidation Program?

The following types of accounts are eligible for Tally Debt consolidation:

  • Personal loans – unsecured loans that allow members to borrow money against their assets.
  • Cart title loans 
  • Federal student loans – Student loans are usually taken out when students graduate college. However, some student loans may not be dischargeable through bankruptcy.
  • Other types of accounts, including medical bills, utility bills, rent, taxes, etc.

Is Tally Debt Consolidation Legitimate?

Yes, Tally Debt Consolidation is a legitimate program. Since 2005 Tally has helped thousands of consumers across America reduce their outstanding debt.

Tally Debt Consolidation Debt Relief Program Pros

  • No balance transfer fees, late fees, or origination fees.
  • Potential to get out of current debts up to two times faster and save thousands of dollars in interest and monthly payments.
  • Auto-payments ensure you always make timely payments and avoid any late fees
  • Aggregate all of your monthly bills into one single payment to help you keep track and ensure you make on-time payments
  • Transparent approach to estimating potential savings.

Tally Debt Consolidation Debt Relief Program Cons

  • Tally isn’t available in every state: Nevada, West Virginia, Wyoming, Montana, or Maine don’t have access to Tally.
  • Tally will work with a credit score as low as the upper 500s but typically requires a score of at least 660 for access to larger lines of credit.
  • Tally+ has an annual fee of $300 if you want to access larger lines of credit.
  • Tally is not designed to help educate you on avoiding debt in the future, and you will have to find a different budgeting tool to help ensure that you don’t fall back into debt.

Does Tally Debt Consolidation Hurt Your Credit?

If you’re considering consolidating your debts, you must be aware that there are ramifications to your credit rating, both positive and negative.

  • Lenders will perform a hard inquiry into your financial history if you apply for a loan. This hard inquiry can affect your FICO score for up to 12 months.
  • If you’re going into debt consolidating, it usually starts with you taking out a brand new line of debt. This could mean opening a new bank account or applying for a new line of cards. It might even be an old line of cards that has been reissued under a different name. Either way, it’s a brand new account on your financial statement, which could cause your scores to drop because of the negative effect on your length of time with the lender, and your new lines of debt. However, there may be some exceptions. For example, if you’ve had a card from a particular company for years and they offer you a special interest rate when you consolidate your balances, you may see that your length of time and number of accounts remain the same.
  • If you decide to consolidate your debts by closing your old credit cards, remember that doing so may lower your credit score.

While a debt consolidation program can harm your credit score, it can also have several benefits, both in the short term and the long term.

  • If you pay off your debts using a fixed-term personal finance plan, your overall balance will fall, which could improve your FICO score.
  • If you consistently pay your debts on time, no matter which route you choose for consolidating them, it will positively affect your payment history and boost your FICO credit score.

Does the Tally Debt Consolidation Debt Program Work?

Yes, the Tally Debt Consolidation program works, and has helped tens of thousands of people help ease their credit burden, consolidate their payments, and decrease the total cost of their loans. Tally has several thousand reviews online. Debt Consolidation Loans can prove to be a life-changing financial decision for some users, and in conjunction with a solid debt management plan, they can have extremely positive and long-lasting effects on a user’s financial life.

What Does Tally Debt Consolidation Charge for Their Debt Consolidation Service Fee?

There are two versions of the Tally app: Tally Basic and the feature-rich Tally+. Tally Basic is the free version of Tally, providing users with access to a credit line with a low APR.

A Tally+ Membership will cost a user $300 annually. Tally+ offers a much larger credit line and a discounted APR. The credit limit a user can access ranges from $2,000 to $25,000 and is a better option for users with higher debt.

One of the compelling features of Tally+ is that users with a strong history of on-time payment can qualify for an additional discount of 4% on their APR. One thing to note is that Tally+ has higher fees, which are determined by the total amount of the credit line.

Tally Debt Consolidation complaints at BBB

Tally Technologies is not BBB Accredited. There are currently 21 complaints against Tally Debt Consolidation on BBB. User complaints revolve around a lack of timely support from the Tally customer service team, and hidden terms and conditions in the user agreement.

Additionally, several users noted that the company had unnecessarily disclosed their information to creditors. With this in mind, make sure you read the fine print on a Tally agreement if you want to use their services.

Reviews on Tally Debt Consolidation at BBB

Currently, there are nine reviews from users of Tally on BBB. These reviews have an average of 1.29 out of 5 stars, and reviewers expressed disappointment in customer support as the primary reason for lower than normal reviews.

Other Reviews Found Online About Tally:

Tally Debt Consolidation currently has over 2,300 reviews on Trustpilot, with an average rating of 4.4 out of 5 stars.

How to Cancel Tally Debt Consolidation

You can close your Tally account whenever you wish using the app.

  1. Navigate to the “Profile” section on your app
  2. Scroll to the end of the page
  3. Click the “Close account” button
  4. Enter your PIN code

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Disclosure: does its best to provide factual and truthful information aimed at helping the public by giving honest debt relief, settlement, and consolidation reviews. However, please email us at if you believe any of the information on this page is inaccurate, and we will make appropriate edits. Always do your research, and do not rely solely on the information provided in this review. We are not responsible for the results of any program you choose to join. Check multiple sources for reviews on Tally Debt Consolidation, including your state’s AG office, FTC, and the BBB. 

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