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Does Progressive Leasing Report to Credit Bureaus
July 1, 2025
Quick Answer
Progressive Leasing does not report your payment history to the three major credit bureaus: Experian, Equifax, and TransUnion. Therefore, making on-time payments on your lease agreement will not directly help you build or improve your traditional credit score.
Progressive Leasing and Your Credit
Progressive Leasing provides lease-to-own solutions, an alternative to traditional credit for purchasing items like furniture, electronics, and appliances. Consumers acquire goods immediately and make periodic payments. This service is often used by individuals with limited or poor credit history who may not qualify for other financing options.
Unlike traditional loans, Progressive Leasing's agreements typically do not appear on reports from the three major credit bureaus. However, payment history may be reported to alternative credit agencies. If an account defaults and is sent to collections, that action can negatively impact your credit score.
Does Progressive Leasing Report to Credit Bureaus?
Progressive Leasing does not widely publicize its credit reporting practices. While it may report payment history to select credit bureaus, the exact nature of the information shared is not confirmed. For definitive details, contacting their customer support is the best course of action. Generally, potential reporting triggers include:
- Account Opening: A new lease agreement can be reported, which may appear on your credit file.
- Payment History: On-time or missed payments are typically reported to bureaus after your statement closes each month.
- Late-Payment Thresholds: Payments that are more than 30 days late are often reported and can negatively affect scores.
- Account Status: The final status of your lease, such as paid-in-full or default, may also be reported.
Who Does Progressive Leasing Report Credit Information to?
Progressive Leasing may report your payment activity to one or more of the three major credit bureaus:
- Experian
- Equifax
- TransUnion
When does Progressive Leasing Report to Credit Bureaus?
Unlike credit card companies that often report on a predictable monthly cycle, Progressive Leasing doesn't adhere to a set timeframe for reporting to credit bureaus. The timing of these reports is more fluid and typically depends on individual factors and specific triggers related to your account. This could include your payment history, the terms of your lease-to-own agreement, or other significant account events. Therefore, you won't find a specific date on the calendar; reporting is handled on a case-by-case basis.
How Reporting Can Affect Your Credit Score
Positive impact
- Making consistent, on-time payments on your lease builds a positive payment history, the most heavily weighted factor in FICO and VantageScore models.
- A lease-to-own agreement diversifies your credit profile, which can improve your credit mix and potentially give your score a slight boost.
Potential negatives
- Late or missed payments are reported to the credit bureaus, which can quickly lower your score by damaging your payment history record.
- Defaulting on your lease agreement could lead to the account being sent to collections, causing severe and long-lasting damage to your credit.
Tips for Managing Credit with Progressive Leasing
Managing your lease-to-own agreement effectively is key to a positive financial experience. Here are some practical tips to help you stay on track:
- Always make your payments on or before the due date. This is the best way to avoid late fees and maintain a good standing with the company.
- Before committing, review your budget to ensure the recurring lease payments fit comfortably without causing financial strain or leading to potential defaults.
- Read your lease agreement carefully to understand the total cost, payment schedule, and all buyout options available to you to make informed decisions.
- If you anticipate having trouble making a payment, contact customer service immediately to discuss your options and prevent negative marks on your account.
- Take advantage of the 90-day purchase option if possible. It's a cost-effective way to own the item and save significantly on leasing fees.
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