- Reducing your effective credit card interest rate could ease your monthly budget
- Late fees protection from this AI-powered app protects your from late payment fees and negative credit impact
- Try out a smart debt repayment plan following the Avalanche method
The average credit card debt in America is over $5,000. With many stuck in the vicious cycle of monthly minimum payments due to exorbitant interest rates north of 20 percent, debt repayments tend to stretch out for years where the amount repaid is usually much more than was borrowed.
Getting stuck in a credit card debt trap could significantly lower your chances of setting aside enough money for retirement or investing in your early working years. Since a recent survey estimated that many Americans are left with only $250 from their monthly paycheck after paying bills and regular spending, credit card debt should be prioritized with a smart debt repayment plan.
This AI App Lets You Convert Your Credit Cards Into One Low-Interest Line of Credit
If you have a credit score of 660 and above, you can avail of a low-interest line of credit from an AI-powered app called Tally, and save money on interest from your next billing cycle.
Tally helps you convert all your credit cards into one and pays your creditors on your behalf every month. You’ll simply have to pay Tally one consolidated bill each month computed at a low interest rate. This will allow you to save money while inching towards a debt-free future faster than before. Such an arrangement could offer you some breathing space by reducing strain on your monthly budget. Tally’s line of credit starts at 7.9 percent, depending on your credit score.
After signing up for free and linking your credit cards on the app secured by 256-bit encryption standards, Tally’s AI bots will create a debt repayment strategy by prioritizing high-interest credit cards with larger balances. You’ll also be informed of a projected debt-free date if you follow their repayment plan.
Say Goodbye to Late Payment Fees With Tally
Tally was designed to protect you from exorbitant credit card charges including steep late payment fees. Their Late Fees Protection program will automatically pay your creditors from your new line of credit if you fail to pay within the monthly deadline. This way, you can avoid any chances of negative credit impact or high fees that don’t really make sense. You can simply pay Tally at a later date.