Progressive does not charge an application fee or processing fee. Your initial payment will be withdrawn from your credit or debit card immediately after the lease is executed, but it is the first of your lease payments and is part of the total cost of the lease. If you are not approved, you will not be charged anything.
Approval amounts vary based on credit history. Payments will be deducted automatically from your bank account or charged to your card. Charges will appear on your statement as Progressive Leasing or Prog Lease, not the store where you selected your merchandise.
“No Credit Needed” means that you don’t necessarily need to have any credit history or a credit score to be approved for a lease. Most lease agreements are set up as a 12-month lease term but may be longer depending on the retailer.