2018 Credit Scores & iPhone Launch Survey

12:01 PM

Posted by: John S Kiernan

The release of each new iPhone model is a big-money occasion. Not just for Apple, the world's largest company by market capitalization and a new Warren Buffet favorite. But also for consumers, who will reportedly be asked to shell out up to $1,400 for the new device at a time when credit card debt is approaching record highs. The key, it seems, is that credit scores are at lofty historical levels, too. In other words, installment plans and other financing arrangements will help the iPhone remain as popular as ever into its second decade.

But how much do consumers really know about the connection between their credit scores and monthly cell phone bills? Do we care more about our phones than our credit scores?

To answer all of those questions and more, WalletHub performed a nationally representative survey of American consumers. You can find the results in the following infographic.

Embed on your website<a href="https://ift.tt/2Nx8xbg"> <img src="//d2e70e9yced57e.cloudfront.net/wallethub/posts/53664/2018-creditscore-iphone-survey-v9.png" width="" height="" alt="" /> </a> <div style="width:px;font-size:12px;color:#888;">Source: <a href="https://ift.tt/2N3VFfQ>

Full Details Overall

What type of phone do you have?
Android 47%
iPhone 46%
Other 7%

Do you plan on purchasing the new iPhone launching later this year?
No 72%
Yes 28%

Which is easier to understand?
Credit reports 61%
Cell phone agreements 39%

Which would you rather have?
Higher credit score 88%
iPhone launching this year 12%

Which would you rather give a stranger access to?
Phone 52%
Credit score 48%

Which would you rather have?
Excellent credit score 81%
Unlimited cell phone data 19%

Which has a bigger impact on your life?
My credit score 66%
My cell phone 34%

Which would you be more upset about losing?
Cell phone 56%
Credit card 44%

Which do you trust more with your personal data?
Apple 41%
Google 33%
The government 26%

Is a new iPhone worth going into credit card debt?
No 89%
Yes 11%

Which should parents give kids first, a credit card or cell phone?
Cell phone 88%
Credit Card 12%

Do cell phone companies check people’s credit when they apply for service?
Yes 71%
No 29%

Is it better buy a cell phone upfront or pay in installments?
Buy upfront 71%
Pay in installments 29%

Should people with bad credit have to pay more for cell phones?
No 79%
Yes 21%
Full Details - By Credit Standing

What type of phone do you have?
Credit Standing Bad Excellent Fair Good
Android 70% 47% 52% 42%
iPhone 16% 44% 45% 52%
Other 14% 9% 3% 6%

Do you plan on purchasing the new iPhone launching later this year?
Credit Standing Bad Excellent Fair Good
No 90% 75% 79% 63%
Yes 10% 25% 21% 37%

Which is easier to understand?
Credit Standing Bad Excellent Fair Good
Credit reports 49% 70% 55% 54%
Cell phone agreements 51% 30% 45% 46%

Which would you rather have?
Credit Standing Bad Excellent Fair Good
Higher credit score 87% 85% 90% 90%
iPhone launching this year 13% 15% 10% 10%

Which would you rather give a stranger access to?
Credit Standing Bad Excellent Fair Good
Phone 50% 42% 59% 61%
Credit score 50% 58% 41% 39%

Which would you rather have?
Credit Standing Bad Excellent Fair Good
Excellent credit score 80% 80% 83% 82%
Unlimited cell phone data 20% 20% 17% 18%

Which has a bigger impact on your life?
Credit Standing Bad Excellent Fair Good
My credit score 60% 69% 68% 63%
My cell phone 40% 31% 32% 37%

Which would you be more upset about losing?
Credit Standing Bad Excellent Fair Good
Cell phone 75% 53% 59% 55%
Credit card 25% 47% 41% 45%

Which do you trust more with your personal data?
Credit Standing Bad Excellent Fair Good
Apple 16% 44% 37% 43%
Google 45% 26% 44% 36%
The government 39% 30% 19% 21%

Is a new iPhone worth going into credit card debt?
Credit Standing Bad Excellent Fair Good
No 90% 90% 93% 86%
Yes 10% 10% 7% 14%

Which should parents give kids first, a credit card or cell phone?
Credit Standing Bad Excellent Fair Good
Cell phone 93% 86% 84% 92%
Credit Card 7% 14% 16% 8%

Do cell phone companies check people’s credit when they apply for service?
Credit Standing Bad Excellent Fair Good
Yes 60% 74% 76% 66%
No 40% 26% 24% 34%

Is it better buy a cell phone upfront or pay in installments?
Credit Standing Bad Excellent Fair Good
Buy upfront 49% 78% 66% 67%
Pay in installments 51% 22% 34% 33%

Should people with bad credit have to pay more for cell phones?
Credit Standing Bad Excellent Fair Good
No 90% 74% 90% 80%
Yes 10% 26% 10% 20%
Full Details - By Age

What type of phone do you have?
18 - 29 30 - 44 45 - 59 59+
Android 55% 55% 43% 36%
iPhone 43% 45% 50% 46%
Other 2% 0% 7% 18%

Do you plan on purchasing the new iPhone launching later this year?
18 - 29 30 - 44 45 - 59 59+
No 61% 68% 72% 86%
Yes 39% 32% 28% 14%

Which is easier to understand?
18 - 29 30 - 44 45 - 59 59+
Credit reports 34% 53% 67% 86%
Cell phone agreements 66% 47% 33% 14%

Which would you rather have?
18 - 29 30 - 44 45 - 59 59+
Higher credit score 88% 89% 84% 89%
iPhone launching this year 12% 11% 16% 11%

Which would you rather give a stranger access to?
18 - 29 30 - 44 45 - 59 59+
Phone 53% 48% 51% 55%
Credit score 47% 52% 49% 45%

Which would you rather have?
18 - 29 30 - 44 45 - 59 59+
Excellent credit score 81% 83% 80% 80%
Unlimited cell phone data 19% 17% 20% 20%

Which has a bigger impact on your life?
18 - 29 30 - 44 45 - 59 59+
My credit score 56% 72% 69% 67%
My cell phone 44% 28% 31% 33%

Which would you be more upset about losing?
18 - 29 30 - 44 45 - 59 59+
Cell phone 57% 74% 51% 42%
Credit card 43% 26% 49% 58%

Which do you trust more with your personal data?
18 - 29 30 - 44 45 - 59 59+
Apple 38% 43% 42% 41%
Google 46% 40% 29% 19%
The government 16% 17% 29% 40%

Is a new iPhone worth going into credit card debt?
18 - 29 30 - 44 45 - 59 59+
No 85% 79% 94% 97%
Yes 15% 21% 6% 3%

Which should parents give kids first, a credit card or cell phone?
18 - 29 30 - 44 45 - 59 59+
Cell phone 87% 89% 92% 85%
Credit Card 13% 11% 8% 15%

Do cell phone companies check people’s credit when they apply for service?
18 - 29 30 - 44 45 - 59 59+
Yes 63% 73% 66% 80%
No 37% 27% 34% 20%

Is it better buy a cell phone upfront or pay in installments?
18 - 29 30 - 44 45 - 59 59+
Buy upfront 71% 71% 63% 80%
Pay in installments 29% 29% 37% 20%

Should people with bad credit have to pay more for cell phones?
18 - 29 30 - 44 45 - 59 59+
No 76% 79% 80% 82%
Yes 24% 21% 20% 18%
Full Details - By Gender

What type of phone do you have?
Female Male
Android 43% 51%
iPhone 52% 40%
Other 5% 9%

Do you plan on purchasing the new iPhone launching later this year?
Female Male
No 70% 75%
Yes 30% 25%

Which is easier to understand?
Female Male
Credit reports 62% 60%
Cell phone agreements 38% 40%

Which would you rather have?
Female Male
Higher credit score 90% 85%
iPhone launching this year 10% 15%

Which would you rather give a stranger access to?
Female Male
Phone 56% 47%
Credit score 44% 53%

Which would you rather have?
Female Male
Excellent credit score 82% 81%
Unlimited cell phone data 18% 19%

Which has a bigger impact on your life?
Female Male
My credit score 68% 64%
My cell phone 32% 36%

Which would you be more upset about losing?
Female Male
Cell phone 58% 53%
Credit card 42% 47%

Which do you trust more with your personal data?
Female Male
Apple 44% 39%
Google 35% 30%
The government 21% 31%

Is a new iPhone worth going into credit card debt?
Female Male
No 89% 89%
Yes 11% 11%

Which should parents give kids first, a credit card or cell phone?
Female Male
Cell phone 92% 84%
Credit Card 8% 16%

Do cell phone companies check people’s credit when they apply for service?
Female Male
Yes 68% 74%
No 32% 26%

Is it better buy a cell phone upfront or pay in installments?
Female Male
Buy upfront 71% 71%
Pay in installments 29% 29%

Should people with bad credit have to pay more for cell phones?
Female Male
No 86% 72%
Yes 14% 28%
Full Details - By Income

What type of phone do you have?
High Income Low Income Medium Income
Android 31% 60% 42%
iPhone 63% 36% 50%
Other 6% 4% 8%

Do you plan on purchasing the new iPhone launching later this year?
High Income Low Income Medium Income
No 74% 69% 70%
Yes 26% 31% 30%

Which is easier to understand?
High Income Low Income Medium Income
Credit reports 73% 36% 60%
Cell phone agreements 27% 64% 40%

Which would you rather have?
High Income Low Income Medium Income
Higher credit score 84% 83% 94%
iPhone launching this year 16% 17% 6%

Which would you rather give a stranger access to?
High Income Low Income Medium Income
Phone 45% 67% 57%
Credit score 55% 33% 43%

Which would you rather have?
High Income Low Income Medium Income
Excellent credit score 83% 65% 90%
Unlimited cell phone data 17% 35% 10%

Which has a bigger impact on your life?
High Income Low Income Medium Income
My credit score 62% 60% 72%
My cell phone 38% 40% 28%

Which would you be more upset about losing?
High Income Low Income Medium Income
Cell phone 52% 55% 59%
Credit card 48% 45% 41%

Which do you trust more with your personal data?
High Income Low Income Medium Income
Apple 47% 33% 48%
Google 15% 50% 28%
The government 38% 17% 24%

Is a new iPhone worth going into credit card debt?
High Income Low Income Medium Income
No 92% 90% 86%
Yes 8% 10% 14%

Which should parents give kids first, a credit card or cell phone?
High Income Low Income Medium Income
Cell phone 90% 90% 89%
Credit Card 10% 10% 11%

Do cell phone companies check people’s credit when they apply for service?
High Income Low Income Medium Income
Yes 77% 58% 66%
No 23% 42% 34%

Is it better buy a cell phone upfront or pay in installments?
High Income Low Income Medium Income
Buy upfront 75% 78% 63%
Pay in installments 25% 22% 37%

Should people with bad credit have to pay more for cell phones?
High Income Low Income Medium Income
No 76% 83% 76%
Yes 24% 17% 24%


from Wallet HubWallet Hub


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