The iPhone X is the hottest thing in technology right now. Everyone is scrambling to get their hands on it, despite the hefty price tag. I’m not quite willing to spend the same amount on my phone as I did on my laptop. Chances are I’ll skip the next few iPhones, but I’m still curious about the best way to pay for the iPhone X. I’m sure a lot of you are as well. So I’ve rounded up the best credit cards to buy an iPhone X with, based on points earned and insurance coverage:
Chase Sapphire Reserve. The Chase Sapphire Reserve provides loss, theft, and damage coverage for your iPhone X for up to 120 days from purchase date. Chase provides up to $10,000 in damages per claim, up to $50,000 per calendar year. If you need the maximum coverage, you probably shouldn’t own an iPhone X to gain with…
Chase Ink Business Preferred. The Chase Ink Business Preferred is my first choice of credit card to buy an iPhone X with. Not only are Ultimate Rewards points incredibly valuable, but the 3x bonus categories offer plenty of opportunities to earn tons of points on an iPhone X purchase. Got an old Chase Ink Plus? Then you can rake in 5x points per $1 spent by purchasing your iPhone X at an office supply store. On to purchase protections…
The Chase Ink Business Preferred card is a great option for iPhone X purchases because of its vast number of purchase protections. Cardholders get up to $600 in damage or theft protection for their new phones. Additionally, there is a $100 deductible and a maximum of three claims per 12 months. Hopefully it won’t come to that because you’ll be responsible and get a sleek looking case for your precious piece of technology.
The Platinum Card from American Express. American Express is renowned for their purchase protections, and cell phone purchases are no exceptions. American Express Platinum cardholders get up to $10,000 protection per claim against loss, theft, and damage. This benefit is capped at $50,000 per year and is valid for up to 90 days from the date of purchase.
Citi Prestige. Not to be outdone by Chase and American Express, the Citi Prestige card offers the same coverage amount on lost, stolen, or damaged cell phones purchased with this card. Coverage is valid for up to 120 days from the purchase date (90 days for New York residents). Citi’s benefit is superior to that offered by Chase and American Express. How? The coverage is primary, while Chase and American Express’ is secondary. Meaning the coverage kicks in after any other insurance (i.e. homeowner, rental insurance) is exhausted.
So which of these cards would I recommend for iPhone X purchases? If secondary coverage is a concern, I would go with the Citi Prestige card. But I don’t have any kind of insurance that would cover a lost, stolen, or damaged cell phone so secondary coverage isn’t really an issue for me. So I would probably go with the Sapphire Reserve since it’s good for 120 days and Ultimate Rewards are such a valuable currency.
I’d like your thoughts: Which credit card would you use for an iPhone X purchase?
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