Tally Automates Credit Card Management to Replace Consumer Stress with Confidence

Tally’s advanced algorithms help consumers make the best possible financial decision

SAN FRANCISCO--()--Tally, the app that helps pay and organize your credit cards, announced today that it has launched. Tally’s goal is to automate consumers’ financial lives, beginning with what according to the Consumer Financial Protection Bureau (CFPB) is the largest and most complex market of any financial product:1 credit cards. Tally handles every permutation of users’ credit profiles, balances, cards, promotional rates and behavior, with advanced algorithms to help maximize their savings and protect them from credit card interest costs and fees.

“Tally’s outstanding team is combining world-class technology with an easy-to-use experience that will help millions of customers who use credit cards.”

“When you combine powerful algorithms with the ability to do work on behalf of the customer, you can really help millions of people,” said Jason Brown, co-founder and CEO of Tally. “Whether credit card users carry balances or not, research has shown that they find managing their cards as stressful as awaiting major medical test results, and that’s not what credit cards should represent. At Tally, we believe credit cards should be empowering and more like a passport, not a burden, so we set out to provide a simpler, smarter way to manage them.”

The vast majority of consumers who carry credit card balances experience “moderate” to “severe” anxiety managing their credit cards, according to April 2017 research by Tally. However, the stress doesn’t end there, with more than a quarter of consumers who do not carry balances reporting the same emotions. There is more than $1 trillion of consumer credit card debt in U.S.,2 and one of the most common ways people try to deal with it is through consolidation. However, these solutions aren’t helping. Nearly 70 percent of people who transferred balances or consolidated debt are in the same or worse position than they were in three years ago3—and 71 percent of those respondents feel more stressed than before.

“After months in Beta with great results, we’re thrilled Tally is expanding to help more customers across the country. Tally addresses a huge need from stressed customers who want to enjoy the freedom of credit cards, but with less anxiety, fees and credit risk,” said Aileen Lee, founder and partner of Cowboy Ventures. “Tally’s outstanding team is combining world-class technology with an easy-to-use experience that will help millions of customers who use credit cards.”

Tally is now available to residents in California, Florida, Illinois, Ohio, Massachusetts, New York, Texas and Wisconsin, which constitute half of all U.S. consumers. Tally will be available to more than two-thirds of U.S. consumers before the end of 2017.

About Tally

Tally is a smarter way to manage your credit cards and a faster way to pay your balance, replacing credit card-induced stress with confidence. Balance or no balance, the credit card industry is notoriously confusing. Tally’s app applies an advanced algorithm to make the right payment, to the right card, at the right time, helping you make the most financially optimal decision and pay down your balances as efficiently as possible. Credit cards should be empowering—a passport, not a burden. Tally wants to help automate your financial life, starting with managing your credit cards.

1 http://files.consumerfinance.gov/f/201512_cfpb_report-the-consumer-credit-card-market.pdf

2 https://www.wsj.com/articles/the-nations-credit-card-tab-hits-1-trillion-1491593929

3 https://www.dropbox.com/s/pktq9d34f7mipve/Tally-Study-Transfer-Trap.pdf?dl=0


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Christina Ra

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