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Does Progressive Leasing Affect Your Credit Score?
July 1, 2025
The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
Quick Answers
- Progressive Leasing says it makes only soft inquiries with TransUnion, Experian, and Equifax, so applying should not affect your FICO score. Secondary bureaus it checks may not offer a soft inquiry option.
- Progressive Leasing says it may report information about your lease to consumer reporting agencies but is not required to, so on-time payments are not guaranteed to build your credit.
- Late payments, missed payments, or other defaults on your lease may be reflected in your credit report.
What Is Progressive Leasing?
Progressive Leasing offers lease-to-own agreements at partner retailers for items like furniture, appliances, and electronics. Progressive buys the item from the retailer, and you lease it with scheduled payments until you own it or return it.
Progressive Leasing states that its lease-to-own option is not a loan, financing, or credit. It is part of PROG Holdings, Inc., a fintech holding company based in Salt Lake City.
Standard agreements run 12 months to ownership. Leasing costs more than the retailer's cash price, though a 90-day purchase option (three months in California) is the lowest-cost path to ownership.
How Progressive Leasing May Affect Your Credit
- Applying: Progressive requests credit bureau reports for all applicants. It uses soft inquiries with the big three bureaus, which don't affect your FICO score, but secondary bureaus it checks may not offer a soft inquiry option.
- Approval: A credit history isn't required. Progressive says approval may weigh credit information, income, and banking history.
- Making payments: Progressive may report information about your lease, but it doesn't commit to doing so, even on request. Don't count on on-time lease payments to build your credit.
- Missing payments: If a payment fails, Progressive tries your backup payment method and you may be charged an NSF fee. Late or missed payments may be reflected in your credit report.
How Much Can Progressive Leasing Affect Your Score?
For most people who pay on time, the effect is likely small, since the application uses soft inquiries with the big three bureaus. The bigger risk is negative information from late or missed payments.
- Negative payment history: Payment history is a major factor in credit scoring, so any late or missed payments that are reported can lower your score. Learn more in what factors affect your credit score.
- Future applications: Lenders reviewing a new application may consider your existing obligations, including lease payments, when they assess your budget.
How to Protect Your Credit With a Lease
Keep Payments on Schedule
Payments are deducted automatically from your bank account or debit or credit card. Keep enough in the account and a valid backup method on file to avoid failed payments and NSF fees.
Call Before You Fall Behind
If you need to change a payment, Progressive asks you to call at least three business days before the next scheduled payment. If you can't continue, you can call (877) 898-1970 to end the lease and return the merchandise, owing only unpaid lease-to-own costs.
Use an Early Purchase Option
Paying off the lease early with the 90-day option or an early buyout ends your payment obligation sooner and lowers your total cost. You must call Progressive to use either option, since retailers can't activate them.
Ways to Improve Your Credit Score
Improving your score takes consistent habits over time. These steps have the most impact.
- Pay every bill on time. Autopay for at least the minimum helps you avoid missed due dates.
- Lower your card balances. Paying down balances reduces your credit utilization. See 6 proven ways to lower your credit card utilization rate.
- Check your credit reports. You can get free reports at AnnualCreditReport.com and dispute errors you find.
- Space out applications. Hard inquiries can lower your score temporarily. Read about hard vs. soft credit inquiries.
If you're building credit with a card, Kudos helps you track your cards in one place. You can also compare cards in Kudos Explore to find options that fit your credit profile.
The Bottom Line
Applying with Progressive Leasing should not affect your FICO score, since it uses soft inquiries with the big three bureaus. Progressive may report lease information but doesn't promise to, so treat the lease as a way to get an item, not a way to build credit, and keep every payment on time.
Frequently Asked Questions
Does Progressive Leasing report to credit bureaus?
Progressive says it may report information about your lease to consumer reporting agencies but is not required to, even on request. It does not currently report lease-to-own applications.
Will applying for Progressive Leasing hurt my credit score?
Progressive uses soft inquiries with TransUnion, Experian, and Equifax, which should not affect your FICO score. Some secondary bureaus it checks don't offer soft inquiries.
What happens if I miss a payment to Progressive Leasing?
Progressive will try your backup payment method, and you may owe an NSF fee if both fail. Missed or late payments may be reflected in your credit report.
Can on-time Progressive Leasing payments build credit?
Not reliably. Because reporting isn't guaranteed, a credit-building product such as a secured card is a more dependable way to add positive history.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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