Progressive Leasing Reviews and Ratings

Progressive Leasing company logo

Progressive Leasing markets itself as a simple way to get electronics, furniture, appliances and jewelry without a traditional credit check. The company operates a lease-to-own (LTO) platform available at more than 30,000 retail locations across the United States. It partners with well-known retailers like Best Buy, Lowe’s, KAY Jewelers and Mattress Firm.

The appeal is clear. Consumers who struggle with poor credit or limited credit history can walk out of a store with the items they need. They pay in scheduled installments over time. But there is a catch that every potential customer should understand before signing a lease agreement.

Progressive Leasing’s own website states that “ownership by rental/lease agreement with Progressive Leasing costs more than the retailer’s cash price.” The Federal Trade Commission (FTC) found that consumers frequently paid twice the sticker price when they completed all scheduled payments. That means a $600 television could end up costing $1,200 or more through the full lease term.

This Progressive Leasing review breaks down how the platform works, what it actually costs and whether it makes sense for different types of consumers.

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What is Progressive Leasing?

Progressive Leasing homepage

Progressive Leasing operates as Prog Leasing, LLC. It is a subsidiary of PROG Holdings, Inc., a publicly traded company on the New York Stock Exchange under the ticker symbol PRG. The company is headquartered in Draper, Utah.

PROG Holdings reported first quarter 2026 revenues of $596.9 million from its Progressive Leasing segment. The company processed $393 million in gross merchandise volume during the same period. These numbers make Progressive Leasing one of the largest lease-to-own providers in the country.

It is important to understand what Progressive Leasing is and what it is not. This platform is not a loan. It is not a credit card. It is not a buy-now-pay-later (BNPL) service in the traditional sense. It is a rental agreement with an option to purchase. This classification matters because lease-to-own agreements are not subject to the Truth in Lending Act (TILA) in most states. That means the company does not have to disclose an annual percentage rate (APR).

The service is available in most U.S. states. However, it is not available in Minnesota, New Jersey and Wisconsin. Additional state restrictions apply to specific retailer promotions. For example, the Best Buy promotion is also unavailable in Vermont, Wyoming and Puerto Rico.

How Progressive Leasing works

The lease-to-own process through Progressive Leasing follows five main steps. Each step is straightforward, but consumers should pay close attention to the total cost before committing.

Step 1. Apply for approval

Consumers can apply through the Progressive Leasing mobile app or at a participating retailer. The application takes about 10 seconds to process. Progressive Leasing pulls credit bureau data but does not require a strong credit history for approval. The company’s FAQ page states that this inquiry should not impact a consumer’s FICO score. However, the inquiry may still appear on a credit report. Not all applicants are approved.

Step 2. Get an approval amount

Approved consumers receive a lease approval amount. This amount determines how much merchandise they can acquire through the platform.

Step 3. Shop at a participating retailer

Consumers shop at a partnered retailer online or in-store. They select eligible items that fall within their approved lease amount. Not all items at a partner store qualify. The website notes “select items only.”

Step 4. Pay the initial payment and start the lease

The standard initial payment is $59 plus tax at lease signing. Some promotions reduce this amount. For example, KAY Jewelers and Lowe’s have offered $1 initial payment promotions. Best Buy has offered a $19 initial payment promotion. However, the fine print on the KAY and Lowe’s promotions states that the “reduced initial payment promotion does not lower the total cost.” The Best Buy promotion may lower the total cost slightly.

After the initial payment, automatic recurring payments begin. These payments align with the consumer’s pay schedule. Payment frequency can be weekly, bi-weekly or monthly based on the consumer’s payday.

Step 5. Choose a path to ownership or return the item

Consumers have three options after starting a lease.

• Pay through the full 12-month lease term and take ownership of the item
• Exercise an early purchase option at 90 days or other available checkpoints to reduce total cost
• Return the merchandise and cancel the lease at any time with no further financial obligation

The 90-day early purchase option is the most affordable way to complete a lease. It includes the cash price plus the lease cost for the first 90 days. After the 90-day window closes, an early buyout option remains available at a higher price than the 90-day option but lower than the full 12-month total. Consumers must call Progressive Leasing at (877) 898-1970 to exercise any early purchase option. Retailers cannot activate these options.

Progressive Leasing total cost and pricing

This is the most important section of this review. The total cost of a Progressive Leasing agreement is significantly higher than the retail price of the merchandise.

The FTC’s own findings confirm this. According to the agency, consumers who made all their scheduled payments “frequently paid twice the sticker price.” Progressive Leasing’s website also acknowledges that the total cost exceeds the retailer’s cash price.

Here is a simplified example of how costs can add up for a $600 item.

• Buy outright at the retailer. The consumer pays $600.
• Use the 90-day early purchase option. The consumer pays the $600 cash price plus the lease cost for the first 90 days. This amount varies by retailer and payment frequency but typically adds a modest premium over the retail price.
• Complete the full 12-month lease. The consumer may pay $1,000 to $1,200 or more depending on the payment schedule. This represents 1.5 to two times the original retail price.

The total cost depends on the item’s cash price, the payment frequency and the length of time it takes to complete the lease. Progressive Leasing offers a budgeting tool on its website that lets consumers estimate lease costs before applying. Consumers should always use this tool to see the full cost before signing any agreement.

A few important notes about promotional pricing.

• The $1 initial payment promotions at KAY Jewelers and Lowe’s do not lower the total cost. The fine print says so directly.
• The $19 initial payment promotion at Best Buy may lower the total cost. This distinction matters.
• Promotional offers do not reduce the number of payments or the total amount needed to take ownership.

Because Progressive Leasing is a lease and not a loan, there is no APR disclosure. The total cost is presented as a series of rental payments rather than a loan with a stated interest rate. Consumers should focus on the total dollar amount they will pay rather than individual payment amounts.

What consumers can lease through Progressive Leasing

Progressive Leasing partners with more than 30,000 retail locations across the United States. The platform covers a wide range of merchandise categories.

• Electronics including laptops, televisions, tablets and smartphones
• Appliances including refrigerators, washers, dryers and dishwashers
• Furniture including sofas, mattresses, bedroom sets and dining sets
• Jewelry through retailers like KAY Jewelers and Zales
• Home improvement items through Lowe’s
• Tires and auto accessories at select retailers
• Musical instruments through Guitar Center

Not every item at a partner retailer is eligible for lease-to-own. Availability varies by retailer, state and item category. The Progressive Leasing mobile app helps consumers find nearby participating retailers and browse eligible items.

Major retail partners include Best Buy, Lowe’s, KAY Jewelers, Mattress Firm, Guitar Center and Cricket Wireless among others.

Progressive Leasing eligibility requirements

Progressive Leasing promotes a “No Credit Needed” tagline. However, this does not mean there is no credit check and it does not guarantee approval.

The company’s FAQ page explains that “No Credit Needed” means applicants do not necessarily need a strong credit history or high credit score to qualify. Progressive Leasing does check credit bureau reports. But the company also considers other data points when making a decision. It regularly approves customers with less-than-perfect credit or limited credit history.

Here are the basic requirements to apply.

• Must be at least 18 years old
• Must have a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
• Must have an active bank account
• Must have a credit or debit card on file
• Must have verifiable income

The credit bureau pull is a soft inquiry. According to the company’s FAQ, applying “should not impact your FICO score.” However, the inquiry may appear on the consumer’s credit report.

Important caveats to keep in mind.

• “Not all applicants are approved” is stated directly on the company’s website
• Progressive Leasing does not report lease payment history to credit bureaus, so on-time payments will not help build credit
• The service is not available in Minnesota, New Jersey and Wisconsin
• Additional state restrictions apply for specific retailer promotions, including Vermont, Wyoming and Puerto Rico for Best Buy offers

Progressive Leasing customer reviews and complaints

Trustpilot reviews

Progressive Leasing Trustpilot profile

Progressive Leasing holds a strong rating on Trustpilot. The company has approximately 2,135 reviews with the following breakdown.

• 89 percent of reviews are five-star
• 3 percent are four-star
• Less than 1 percent are three-star
• Less than 1 percent are two-star
• 7 percent are one-star

Positive reviews frequently praise the easy approval process, flexible payment schedules and the 90-day payoff option. One reviewer noted that “leasing with Progressive is such an easy and stress free way to finance the things you desire” and that she typically pays off her leases within 90 days. Another long-time customer described returning more than five times because “no other company can beat Progressive Leasing.”

Negative reviews on Trustpilot often mention surprise at the total cost, difficulty reaching customer service and confusion about early purchase option terms.

Better Business Bureau (BBB) reviews

Progressive Leasing BBB profile

Progressive Leasing, LLC holds an A+ rating with the Better Business Bureau. However, the company is not BBB accredited. The BBB profile shows a significant volume of customer complaints.

Common complaint themes on the BBB profile include the following.

• Total cost surprise after signing the agreement
• Payment processing errors and unauthorized charges
• Difficulty returning items and canceling leases
• Confusion about promotional offers and their actual impact on total cost
• Disputes about credit reporting

The company does respond to BBB complaints, but not all consumers report satisfaction with the resolutions.

Reddit reviews

Reddit threads about Progressive Leasing offer unfiltered consumer perspectives. Discussions on r/povertyfinance and r/Bestbuy reveal several recurring themes.

One user on r/povertyfinance shared that they used Progressive Leasing to buy a mattress and planned to pay it off within 90 days. When unexpected expenses arose, they missed the 90-day window and described the ongoing payments as a “money sucking scam.”

A Best Buy employee posted that even at the lowest lease amount of $300, consumers ended up paying $706, not including the initial $79 fee (at the time). That employee wrote, “It damages my reputation” and made sure to explain the full cost to customers before they applied.

Multiple Reddit users recommend the 90-day early purchase option as the only financially sensible way to use the platform. Those who completed the full 12-month lease term consistently express regret about the total cost.

App Store and Google Play

The Progressive Leasing mobile app has a 3.7 rating on Google Play with over 6,240 reviews. Common complaints in recent one-star reviews mention app functionality issues, payment processing problems, approval denials after previous successful leases and difficulty reaching customer support through the app.

Progressive Leasing complaints and red flags

2020 FTC enforcement action

The most significant regulatory action against Progressive Leasing came in April 2020. The FTC filed a complaint against Prog Leasing, LLC, alleging that the company deceived consumers about the true price of items purchased through its lease-to-own plans.

The FTC alleged that Progressive Leasing advertised “no interest” payment plans and led consumers to believe they would pay “same as cash” prices. In reality, consumers paid significantly more than the sticker price. The case resulted in a $175 million settlement, one of the largest consumer protection settlements in the lease-to-own industry.

The FTC returned more than $172 million to affected consumers. A second round of refund checks totaling more than $27 million was sent in September 2025. Over 1.2 million checks were issued to consumers who qualified.

Pennsylvania Attorney General action

In August 2022, the Pennsylvania Attorney General filed a complaint against Progressive Leasing. The state alleged violations of the Pennsylvania Rental Purchase Agreement Act related to disclosure requirements on lease merchandise. Progressive Leasing settled the case in January 2024 and paid a $1 million settlement.

Cost disclosure practices

Since the 2020 FTC action, Progressive Leasing has added clearer disclosures to its website. The homepage now states that “ownership by rental/lease agreement with Progressive Leasing costs more than the retailer’s cash price.” Whether these disclosures are prominent enough at the point of sale remains a valid question. Reddit posts and BBB complaints suggest some consumers still feel surprised by the total cost.

Credit bureau reporting

Progressive Leasing does not report lease payment history to major credit bureaus. This means on-time payments will not help consumers build or improve their credit scores. It also means missed or late payments will not directly damage a credit score through bureau reporting. However, consumers should not view Progressive Leasing as a credit-building tool.

Progressive Leasing outcomes and success rate

Progressive Leasing does not publicly disclose approval rates, average lease completion rates or average consumer savings through early purchase options.

However, some data points from public filings and FTC records provide context.

• PROG Holdings reported $393 million in gross merchandise volume for Q1 2026. This shows sustained consumer demand for the platform.
• The FTC found that consumers who made all scheduled payments frequently paid twice the sticker price. This suggests the total cost burden on full-term lessees is substantial.
• The provision for lease merchandise write-offs was 7.3 percent of leasing revenues in Q1 2026. This falls within the company’s targeted 6 to 8 percent annual range. It indicates a moderate level of lease defaults or returns.

Consumers who use the 90-day early purchase option will pay the least amount above retail price. Those who complete the full 12-month term will pay the most. The gap between these two outcomes is significant and should drive every consumer’s decision about whether and how to use this service.

Progressive Leasing pros and cons

Pros

• No traditional credit score required for approval, making it accessible to credit-invisible or poor-credit consumers who cannot qualify for a store credit card or personal loan
• Return and cancel option available at any time with no remaining balance owed, providing a genuine safety net if circumstances change
• Early purchase option at 90 days reduces total cost significantly compared to the full lease term
• Wide network of more than 30,000 partnered retail locations including major brands like Best Buy, Lowe’s, KAY Jewelers and Mattress Firm
• Automatic payments align with the consumer’s pay schedule, reducing the risk of missed payments for those with irregular income timing
• Quick application process with decisions in about 10 seconds

Cons

• Total cost exceeds the retail price, often reaching 1.5 to two times the sticker price when the full lease term is completed
• The $1 initial payment promotions at KAY and Lowe’s do not lower the total cost despite creating the impression of a lower barrier
• FTC enforcement history including a $175 million settlement over deceptive pricing practices
• Not available in Minnesota, New Jersey, Wisconsin and additional states for specific retailer promotions
• Does not report payments to credit bureaus, so it provides no credit-building benefit
• The early purchase option requires cash availability that the target consumer likely does not have, since most people choose lease-to-own due to lack of upfront funds
• Consumers must call the company directly to exercise early purchase options. Retailers cannot process these requests.

Progressive Leasing compared to Acima

Acima is the most direct competitor to Progressive Leasing. Both are lease-to-own platforms with “no credit needed” positioning. However, they are separate companies. Acima was acquired by Rent-A-Center, now known as Upbound Group and traded on NASDAQ under the ticker RCII, in February 2021. Progressive Leasing operates under PROG Holdings, traded on the NYSE under the ticker PRG. They do not share a parent company.

Here is how they compare across key factors.

• Retailer network. Progressive Leasing partners with more than 30,000 locations. Acima has been expanding aggressively and has added retailers that Progressive Leasing lost, including Ashley Furniture.
• Approval process. Both platforms check credit bureau data without requiring a strong score. Acima offers instant decisions. Progressive Leasing processes applications in about 10 seconds.
• Initial payment. Progressive Leasing charges a standard $59 initial payment. Acima has offered $10 initial payment promotions at select stores.
• Early purchase option. Both offer a 90-day purchase option. Consumers should compare the total cost under each platform’s 90-day option for their specific item before deciding.
• Return policy. Both allow consumers to return merchandise and cancel the lease at any time. Specific return terms vary by company and should be confirmed before signing.
• State availability. Progressive Leasing is not available in MN, NJ and WI. Consumers in those states should check Acima’s availability.
• App ratings. Progressive Leasing holds a 3.7 on Google Play. Consumers should compare this with Acima’s current ratings before choosing.

Snap Finance and Katapult (formerly Zibby) are additional alternatives worth considering for consumers who want to compare total costs across lease-to-own providers.

Who should consider Progressive Leasing

Progressive Leasing makes financial sense for a very specific type of consumer. The platform works best for someone who meets all of the following criteria.

• Needs a specific item right away and cannot wait to save up
• Has no access to traditional financing such as a store credit card, personal loan or 0 percent APR offer
• Has reviewed the total cost using the budgeting tool on the Progressive Leasing website and accepts it
• Has a concrete plan to exercise the 90-day early purchase option to minimize the total premium paid above retail

The platform also works for consumers who may need to return the item if circumstances change. The return-and-cancel right eliminates ongoing financial obligation, which is a genuine advantage over a loan where the balance remains even after returning the product.

Who should look elsewhere instead of Progressive Leasing

Progressive Leasing is not the right choice for every consumer. The following groups should explore other options first.

• Anyone who qualifies for a store credit card with a 0 percent promotional APR period
• Anyone who can use a BNPL product like Affirm or Klarna with lower total cost
• Consumers in Minnesota, New Jersey or Wisconsin where the service is unavailable
• Anyone without a realistic plan to use the 90-day early purchase option
• Consumers who assumed the $1 initial payment represents a lower total cost (it does not for most promotions)
• Anyone looking for a credit-building tool, since Progressive Leasing does not report to credit bureaus

Better alternatives for these consumers include credit union personal loans, retailer financing programs with 0 percent APR, BNPL installment plans and secured credit cards that report to bureaus and help build credit over time.

Progressive Leasing final verdict

Progressive Leasing earns a conditional recommendation. It serves a specific purpose for a narrow group of consumers. For someone with poor or limited credit who needs an item now and has no lower-cost financing available, it provides a path to ownership that traditional lenders do not offer.

But the cost is real. The FTC confirmed that full-term lessees frequently paid double the sticker price. Even after the $175 million settlement and improved disclosures, the core cost structure has not changed. Lease-to-own is more expensive than buying outright. That is the trade-off for accessibility.

The 90-day early purchase option is the single most important tool a consumer has to reduce cost. Anyone considering Progressive Leasing should plan to exercise it. The return-and-cancel option adds a genuine layer of protection that traditional loans do not provide.

Consumers should use the company’s online budgeting tool, read the full lease terms and compare costs with alternatives before signing. For readers who have exhausted all other options and need an item now, Progressive Leasing can fill the gap. For everyone else, a store credit card, personal loan or BNPL plan will almost always cost less.

Frequently asked questions about Progressive Leasing

Is Progressive Leasing a loan?

No. Progressive Leasing is a lease-to-own platform. Consumers enter a rental agreement with the option to purchase the item. It is not a loan, credit card or traditional BNPL product. Because it is a lease, the company is not required to disclose an APR.

Does Progressive Leasing affect your credit score?

Applying for a lease should not impact a consumer’s FICO score. Progressive Leasing performs a soft credit inquiry. However, the inquiry may appear on a credit report. The company does not report lease payment history to credit bureaus, so payments will not help build credit.

How much does Progressive Leasing really cost?

The total cost depends on the item price, payment frequency and whether the consumer uses an early purchase option. Consumers who complete the full 12-month lease often pay 1.5 to two times the retail price. The 90-day early purchase option offers the lowest total cost above retail.

Can you return items leased through Progressive Leasing?

Yes. Consumers can return the merchandise and cancel the lease at any time with no remaining balance owed. This is one of the key advantages of a lease-to-own agreement over a traditional loan.

What states is Progressive Leasing not available in?

Progressive Leasing is not available in Minnesota, New Jersey and Wisconsin. Additional restrictions apply in Vermont, Wyoming and Puerto Rico for specific retailer promotions such as Best Buy.

Disclaimer. This article is for informational purposes only and does not constitute legal, financial or tax advice. Always consult a licensed professional for advice tailored to your situation.