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-