We assumed a fully utilized credit line (or up to the credit card debt if lower) and no Prime Rate or other APR changes. For each borrower we used: (a) consistent monthly payments of 3% of their credit card balance(s) and (b) monthly credit card transactions of 0.7% of their credit card balance(s). We excluded delinquent members, members who did not use Tally, and credit cards with APRs lower than the Tally APR (since Tally wouldn’t pay those cards, except for late fee protection). We compared how much interest the member would pay with and without a Tally line of credit until their balances on credit cards added to Tally were fully repaid. With a lower APR, your payments can reduce the loan balance faster.ĢCan save up to $4,300 in 7 years - We calculated the interest savings in November 2023, based on Tally’s records for borrowers who enrolled in a Tally line of credit from October, 2022 through May, 2023. Privacy Policy - Terms & Conditions - Accessibilityġ Get out of credit card debt faster - Average Tally member line of credit APR (20.49%) and credit card APR's (25.99%) calculated in September 2023 for member accounts active during OctoMay 1, 2023. The APR will vary with the market based in the Prime Rate. Based on your credit history, the APR (which is the same as your interest rate) will be between 7.9% - 29.99% per year and credit lines will be between $2,000 - $20,000. *To get the benefits of a Tally line of credit, you must qualify for and accept a Tally line of credit. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. New Mexico Only: This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL Customer Service, P.O. Loans made by Tally pursuant to California FLL license or other state laws. Lines of credit not available in all states. ("Tally"), as noted in your line of credit agreement. Lines of credit issued by Cross River Bank, Member FDIC, or Tally Technologies, Inc. ( NMLS # 1492782 NMLS Consumer Access, ).
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |