By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Next Gen Econ
  • Home
  • News
  • Personal Finance
    • Credit Cards
    • Loans
    • Banking
    • Retirement
    • Taxes
  • Debt
  • Homes
  • Business
  • More
    • Investing
    • Newsletter
Reading: Tally App personal lines of credit: 2024 alternatives
Share
Subscribe To Alerts
Next Gen Econ Next Gen Econ
Font ResizerAa
  • Personal Finance
  • Credit Cards
  • Loans
  • Investing
  • Business
  • Debt
  • Homes
Search
  • Home
  • News
  • Personal Finance
    • Credit Cards
    • Loans
    • Banking
    • Retirement
    • Taxes
  • Debt
  • Homes
  • Business
  • More
    • Investing
    • Newsletter
Follow US
Copyright © 2014-2023 Ruby Theme Ltd. All Rights Reserved.
Next Gen Econ > Personal Finance > Loans > Tally App personal lines of credit: 2024 alternatives
Loans

Tally App personal lines of credit: 2024 alternatives

NGEC By NGEC Last updated: September 20, 2024 5 Min Read
SHARE

Tally Technologies, Inc. was a digital platform designed to help consumers consolidate high-interest credit card debt using affordable lines of credit. Headquartered in San Francisco, California, the company served millions of customers since its inception in 2015.

However, Tally is no longer offering personal lines of credit after it ceased operations in August of this year.

Alternatives to Tally

Tally was ideal for individuals with good credit looking to consolidate credit card debt. There were no origination fees, late payment fees or prepayment penalties. Plus, the competitive starting APR and low monthly payments made Tally a more cost-effective choice than other traditional debt products.

Upstart, Happy Money and Avant are worth considering if credit card debt consolidation is still at the top of your list of priorities. However, they only offer personal loans — largely because most lines of credit are funded by banks and credit unions, not online lenders.

Upstart Happy Money Avant
Bankrate Score 4.8 4.6 4.7
Better for Flexible loan amounts Low maximum APR Borrowers with bad credit
Loan amounts $1,000-$50,000 $5,000-$40,000 $2,000-$35,000
APRs 7.80%-35.99% 11.72%-17.99% 9.95%-35.99%
Term lengths 36 or 60 months 24 to 60 months 24 to 60 months
Fees Origination fee up to 12% Origination fee up to 5.5% Administration fee up to 9.99%
Min credit score Not disclosed 640 580
Time to funding As soon as one business day 3 to 6 business days As soon as one business day

Upstart

Upstart offers flexible personal loans that do not have strict restrictions on how funds are used. Along with its lower starting APR, Upstart is a viable debt consolidation option if you want a fixed rate. But despite its low starting APR, Upstart has one of the higher origination fees on the market. In addition to other costs, this could decrease your savings from consolidating.

Happy Money

Happy Money is another viable alternative to Tally. Its loans are meant for consolidating credit card debt, and unlike many lenders in the space, its APR caps out at just 17.99 percent. That said, you’ll still pay an origination fee of up to 5.5 percent. However, there are no late fees, returned payment fees or prepayment penalties. This makes Happy Money a good choice if you need to consolidate at least $5,000 of debt.

Avant

Avant could be the best fit if you have a lower credit score but want to consolidate high-interest debt. It accepts scores as low as 580, which is good if you need a bad credit loan for more than just debt consolidation. The main drawback is its potential cost. Rates start on the higher end, and its administration fee — similar to an origination fee — is 9.99 percent.

Why did Tally stop offering its credit line?

Tally closed its virtual doors to new business due to funding challenges.

In a recent LinkedIn post, founder and CEO Jason Brown stated, “After nearly nine years of helping people manage and pay off their credit card debt, we have made the difficult and sad decision to shut down Tally.”

He went on to mention how financial hurdles have ultimately led to the fintech company’s demise. “This was not the outcome we had hoped for, but after exploring all options, we were unable to secure the necessary funding to continue our operations.”

Current Tally borrowers should receive information from the new loan servicer.

If you were considering Tally, there are alternatives available. Before you make a final decision, compare personal loan rates with other lenders. This can help you make the most of your loan — and find options that fill the gaps Tally left behind.

Read the full article here

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Is the Capital One Savor card worth it?
Next Article Here Are the Most Useful Kitchen Gadgets Under $10 on Amazon
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

FacebookLike
TwitterFollow
PinterestPin
InstagramFollow
TiktokFollow
Google NewsFollow
Most Popular
8 Reddit Threads Power Shoppers Use to Snag Verified Coupon Drops First
May 8, 2025
Rule of 110: How to Calculate and Examples
May 8, 2025
Why Credit Unions Can Be a Great Option for Personal Loans
May 8, 2025
Roth IRA vs. Index Fund: What’s the Difference?
May 8, 2025
Hosting Season Is Here. What an Insurance Adjuster Wants You To Know About Social Host Liability
May 8, 2025
Capital One Travel Portal Guide
May 8, 2025

You Might Also Like

Loans

Personal loan vs. the store’s no-interest loan for furniture

9 Min Read
Loans

Deciding between a personal loan vs. a credit card: Which is better?

12 Min Read
Loans

Personal loan default: What it is and how to get out of it

11 Min Read
Loans

Private lenders vs banks: Which is better?

10 Min Read

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Next Gen Econ

Next Gen Econ is your one-stop website for the latest finance news, updates and tips, follow us for more daily updates.

Latest News

  • Small Business
  • Debt
  • Investments
  • Personal Finance

Resouce

  • Privacy Policy
  • Terms of use
  • Newsletter
  • Contact

Daily Newsletter

Subscribe to our newsletter to get our newest articles instantly!
Get Daily Updates
Welcome Back!

Sign in to your account

Lost your password?