According to WalletHub’s 2018 Credit Score and iPhone survey, nearly 28 million Americans believe that getting one of the Apple iPhones to be introduced this week is worth going into debt to purchase.
They haven’t even seen the phones yet! And some models will cost more than $1,000!
Please understand that this is a survey and this site didn’t call every American. WalletHub surveyed only 480 people. And 11 percent — which would represent 28 million adults — said they thought the new iPhone was debt-worthy.
Of course, that doesn’t mean that all 28 million American adults will buy new iPhones. And it doesn’t mean that these people will have good enough credit to buy one.
But it does say something about priorities. And the demographics are interesting: Five times more millennials than baby boomers would go into debt for the new phones. And 29 percent of phone shoppers don’t know they could have their credit scores checked when buying the phone — which could mean they won’t be extended the loan.
I have an iPhone 7, and I think it’s great. I’ll probably be forced to buy a new iPhone — or a competing brand — the day after I accidently drop my current one into the toilet. Which is why I always have a firm grip when I’m in that position.