Tally is a new financial tool that’s helping millennials get their credit back in shape. The app was designed by Tally Financial Inc, and is geared towards helping you pay off debts in half the time with their unconventional payback system. Tally works by having you enter all of your various credit card and debt information. You will be able to leverage this into a debt consolidation loan which will be used specifically to pay back all of your approved creditors. Instead of juggling multiple accounts with a carousel of due dates, you will be able to enjoy just one monthly payment.
Qualifying for Tally depends on a variety of factors such as credit score range, amount of debts, and interest rates. Once approved the app begins distributing payments directly to creditors based on the lowest interest rates and scaling up from there. However, if you prefer to be in charge of your own payments then the app gives you the option to do so yourself as well. The best part of all is that you still retain the full use of all of your cards throughout the repayment process. No losing out on cashback rewards and travel points here. You can register via their online site or mobile app but they are currently not available in all fifty states.