Yes, not seeing the business model here. They're basically issuing a credit card of their own.
Somehow, I suspect this will morph into a "consolidate your bills" scheme, or the low rate is only an introductory rate, or there will be big fees, or they try to sell you on a home equity loan, like LowerMyBills.com.
Good question on introductory rates and fees. Tally does NOT offer introductory or "teaser" rates. Your Tally APR is your Tally APR.
And Tally does NOT charge ANY fees of ANY kind. Here's a cut and paste from our FAQ: "There’s no annual fee, no origination fee, no prepayment fee, no balance transfer fee, no late fee, no overlimit fee, nada. Like you, we hate hidden fees."
Tally makes money by charging interest on the amount you borrow from us. We only make money if we can save you money. But that’s it.
Somehow, I suspect this will morph into a "consolidate your bills" scheme, or the low rate is only an introductory rate, or there will be big fees, or they try to sell you on a home equity loan, like LowerMyBills.com.