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Big Lots Progressive Leasing – What is it and How Does it Work?

Big Lots Progressive Leasing – What is it and How Does it Work?

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Are you in the market for new furniture but can’t afford it? Big Lots, known for its name-brand furniture at marked-down prices, offers a Big Lots Progressive Leasing program that makes it easier to buy the items you want now and spreads the payments out over 12 months.

What is Progressive Leasing?

Progressive Leasing is a lease-to-own plan. You make a payment when you sign the lease and then for the next 12 months. You get to take the furniture or other household items home that day.

It’s like rent-to-own, but you’re buying the item from the store and own it once you pay the lease in full. You don’t have to worry about leaving the item at the store and not receiving it until you pay it in full. You get an entire year to pay the item off in full, but it’s best if you pay it off early.

What stores offer Progressive Leasing?

You can find the Progressive leasing payment option at a few major retailers including:

Mattress Firm

Buying a bed shouldn't be something you lose sleep over. That's why Mattress Firm offers a no credit needed lease-to-own option powered by Progressive Leasing™. Even if you have imperfect credit, there’s an affordable and simple way to get your perfect mattress with Progressive Leasing.

Apply today and get your new mattress on lease.

Lowes Home Improvement & Hardware

Get your next home improvement project going with a lease to own financing option, with minimum purchase set to only $150.

Qualifying products include:

Home appliances, seasonal home and outdoor living furnishings, Power tools, Home decor and lighting fixtures.

Non-leasable products:

Perishables (food) and consumables (fuel, fertilizer), Permanent installations (flooring, HVAC, Water Heaters, Carpet, Drywall, Tile).

Apply and find out if you qualify here.

Reeds Jewelers

In the market for fine jewelry such as an engagement ring or anniversary gift? Consider the lease to own option at Reeds.


  • Easy Regular Payments on your jewelry
  • 12 month lease-to-own program
  • 90 day purchase option
  • Early Purchase Option: Standard agreement offers 12 months to ownership. Early purchase options cost more than the retailer's cash price (except 3-month option in CA). 
    Apply today!

Best Buy Home Electronics

Best Buy is a leading retailer of consumer electronics, personal computers, entertainment software, and appliances with the lowest prices on brand-name merchandise. Now enjoy the tech you want today with lease to own.*

Shop for everything you need with only a $59 initial payment* on purchases $250 and up.
Not available in the following states: Minnesota, New Jersey, Vermont, Wisconsin, Wyoming or Puerto Rico.

Apply today at Best Buy!

How does Big Lots Progressive Leasing Work?

Big Lots Progressive Leasing is a simple, no credit check program. While they say you don’t need a credit score, they check the information with the credit bureaus to make the final decision. So it’s best to have a decent credit history for the best chances of approval.

They don’t disclose how they determine who qualifies, but they state you must be at least 18 years old, have a valid Social Security number, provide the routing number to your checking account, and have an active credit or debit card.

The Big Lots leasing program divvies your cost over 12 months, adding a lease-to-own fee to the total cost. The items will cost more than the retail cost, but you can save money if you pay them off early. Your payments will be more than the item’s price divided by 12; it depends on the cost of the leasing program.

If approved, the Progressive leasing program automatically withdraws your monthly payment from your bank account on the same day each month. So you don’t have to worry about making your payments on time because they withdraw the funds automatically.

What can you Lease with Progressive Leasing at Big Lots?

The Big Lots Progressive Leasing Program is for furniture and seasonal items. The approved items may vary by store but typically include the following:

  • Sofas
  • Loveseats
  • Chairs
  • Dining sets
  • Kitchen tables
  • Outdoor dining talbes
  • Umbrellas
  • Gazebos
  • Mattresses

What are the Fees?

Big Lots doesn’t disclose the fees they charge on their leasing program. However, they disclose that leasing the items will cost buyers more than the retail cost. You can save on the costs by buying the items early, though.

Can you Buy your Items Early?

Each Big Lots Progressive lease is automatically set for a 12-month repayment period. Your payments are based on the 12-month payment, but you can buy the items early.

The least expensive way to buy the items early is to take advantage of the 90-Day Purchase Option (3-Month option in California). If you come up with the cash to pay for the item in full within 90 days, you’ll save money on the total leasing cost. You only pay the item's retail price if you pay it off in three months.

If you don’t have the cash to pay the lease off within 90 days, you can still take advantage of paying it off early, within 12 months. Of course, you will pay lease fees if you don’t pay it off in three months, but you’ll still save money on the months you cut the lease short.

To pay your lease off early, call 1-877-898-1970 and discuss your options.

Does Progressive Leasing do a Hard Credit Check?

The Big Lots leasing program doesn’t do a hard credit check. Instead, they state that anyone can qualify, whether they have bad or no credit.

However, they do check your credit with the credit bureaus. For example, they likely look at your history to determine if you’ve defaulted on debts in the past. So while they don’t use your credit score and it doesn’t show up as an inquiry on your credit report, they use your credit report to determine if you are a good risk.

What Credit Score is Needed for Progressive Leasing?

You don’t need a credit score for Progressive Leasing. Since they don’t do a hard credit check, they aren’t looking at your credit score. So if your credit history is solid, meaning you don’t have any late payments or defaulted debts, you have a good chance of getting approved.

They may also look at how many debts you have outstanding. For example, an applicant with too many debts may not qualify because they already have too much credit outstanding.

How Many Progressive Leases can you Have?

You can have more than one Progressive lease; however, this is case-by-case. Whether you qualify depends on your history with your current lease, how much you have outstanding and how many other debts you have. But having one Big Lots Progressive lease doesn’t exclude you from getting another.

Final Thoughts

The Big Lots Progressive Leasing program is a great way to purchase items you need for your home but can’t buy outright. You don’t have to worry about having enough room on your credit card or paying credit card interest.

The best scenario is you use the Big Lots leasing program but pay the items off in three months. It doesn’t cost you anything extra; you own the items in three months. If you can’t, however, pay the lease as agreed and, if possible, pay it off early to save money.

Click here for a list of Buy Now, Pay Later Furniture Stores

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