WalletHub: Nearly 1 in 3 Americans would rather have a new iPhone than a higher credit score.

Wallethub released the results of a survey that show, more people would rather have the new iPhone rather than a better credit score. The result hardly shocks me.

Here are some key findings:

  • Individuals who want the new iPhone can save up to $917 by opting for a no-contract plan from  Walmart Family Mobile. Families can save up to $1,684 for four lines.
  • Individuals can save up to $1,495 by keeping their old phone and using the Walmart Family Mobile plan. Families can save up to $2,263.
  • None of the major carriers offer two-year contracts for new iPhone purchases anymore, after Sprint discontinued their offer in the past year.
  • 74% of people don’t plan to buy the new iPhone.
  • Only 1 in 50 people would pay $1,000+ for a new phone.
  • Nearly 1 in 3 Americans would rather have a new iPhone than a higher credit score.

WalletHub’s Cell Phone Savings Calculator lets users input their upfront and monthly costs to compare the true cost of two-year contracts, installment plans and no-contract plans from all of the major carriers. You can check out the calculator, along with an embeddable infographic comparing the most popular plans, here: https://wallethub.com/cell-phone-calculator/

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