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Credit Cards

Planning on getting the new iPhone 13? Here are the best credit cards to maximize your purchase

With the right credit card, you can earn rewards and access benefits on your new iPhone purchase.

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iPhone 13 Pro
Source: Apple Inc.
Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We may receive a commission when you click on links for products from our affiliate partners.

Apple is launching its latest versions of the iPhone on Friday. As these phones are now becoming as costly as some laptops, it's in your best interest to have the right credit card on hand to purchase the phone in full. However, there are flexible financing options available through Apple and several large cell-phone carriers.

With the right credit card, you can accomplish one or more of the following when purchasing the new iPhone: earn a valuable welcome bonus, protect your new iPhone with purchase protection or cell phone insurance and earn cash back or travel rewards. Regardless of what's most important to you, it's in your best interest to carefully consider which credit card to use for this large investment.

Select reviews the best credit cards to use when purchasing the new iPhone.

How much does the new iPhone cost?

Here’s a breakdown of how much each iPhone 13 model costs:

  • iPhone 13 mini: Starting at $699
  • iPhone 13: Starting at $799
  • iPhone 13 Pro: Starting at $999
  • iPhone 13 Pro Max: Starting at $1,099

Even if you choose the least expensive model, this large purchase can quickly help you meet the minimum spending requirement to earn a valuable credit card welcome bonus, which can come in the form of travel rewards or cash back.

Best credit cards for buying an iPhone 13

If you want to earn cash back and use special financing

Apple Card

Information about the Apple Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.
  • Rewards

    3% cash back on goods or services purchased directly from Apple (including Apple retail stores, the Apple online store, the App Store, iTunes, Apple Music and other Apple-owned properties) on Uber and UberEats, at Walgreens and Duane Reade stores, on the Walgreens app and on Walgreens.com, in T-Mobile stores, at Nike, at Exxon and Mobil stations and at Panera Bread, 2% cash back on Apple Pay purchases and 1% cash back on all other purchases

  • Welcome bonus

    None

  • Annual fee

    $0

  • Intro APR

    None

  • Regular APR

    10.99% to 21.99% variable

  • Balance transfer fee

    None

  • Foreign transaction fee

    None

  • Credit needed

    N/A

Terms apply.

The Apple Card, a favorite for many Apple loyalists, offers excellent cash back on Apple products, along with flexible financing.

The card offers 3% cash back on purchases made directly with Apple, along with several other national retailers like Uber and Walgreens. This means you can quickly cut 3% from the full cost of your iPhone if you purchase it directly from Apple. Additionally, you will earn 2% cash back on all eligible purchases made with Apple Pay and 1% cash back on all other eligible purchases.

You can also purchase your new iPhone through Apple Card Monthly Installments and pay for it with equal payments over 24 months. There are no interest charges with the monthly installment plan and you'll receive 3% cash back on the purchase price of your new iPhone up front. Learn more about Apple Card Monthly Installments.

If you want to earn a good welcome bonus

Chase Sapphire Preferred® Card

On Chase's secure site
  • Rewards

    $50 annual Ultimate Rewards Hotel Credit, 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining, 2X points on all other travel purchases, 5X points on Lyft rides through March 2022, and 1X points on all other purchases

  • Welcome bonus

    Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening

  • Annual fee

    $95

  • Intro APR

    None

  • Regular APR

    15.99% to 22.99% variable on purchases and balance transfers

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction fee

    None

  • Credit needed

    Excellent/Good

Terms apply.

 

With the Chase Sapphire Preferred® Card you can earn 60,000-point bonus after spending $4,000 within the first three months of account opening. The 60,000 points are worth up to $750 toward travel when you redeem through the Chase Travel portal.

Before you apply for the Sapphire Preferred, be sure that you meet certain eligibility requirements to qualify for the bonus, such as not being a current account holder on any Sapphire card or being over the 5/24 rule.

If you want to maximize cash back

U.S. Bank Cash+® Visa Signature® Card

Information about the U.S. Bank Cash+® Visa Signature® Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
  • Rewards

    5% cash back on two categories you choose quarterly (on your first $2,000 in combined eligible net purchases each quarter, then 1%); 2% cash back on one everyday category; 1% cash back on everything else

  • Welcome bonus

    $200 cash back bonus after you apply online and spend $1000 within the first 120 days of account opening

  • Annual fee

    $0*

  • Intro APR

    0% APR for the first 18 billing cycles on balance transfers*

  • Regular APR

    13.99% to 23.99% (variable)*

  • Balance transfer fee

    3%, minimum $5

  • Foreign transaction fee

    2% to 3%

  • Credit needed

    Excellent/Good

*See rates and fees, terms apply.

The U.S. Bank Cash+® Visa Signature® Card allows you to choose which two bonus categories you earn 5% cash back in each quarter, up to $2,000 in combined eligible net purchases, then 1%. The electronics stores category includes Apple Store in-store and online purchases, so you can earn up to 5% cash back on your iPhone 13 purchase.

This card can earn you 2% more cash back than the Apple Card. If you purchase the iPhone 13 Pro Max with the U.S. Bank Cash+ card, you can earn around $55 in rewards. Keep in mind that you'll need to select the category prior to buying your new iPhone.

In addition, you will earn $200 cash back after spending $1,000 in eligible purchases within the first 120 days of account opening. So depending on which iPhone model you choose and the accompanying sales tax, you can possibly meet the spending threshold with your iPhone purchase alone.

If you are a small business owner

Ink Business Preferred® Credit Card

On Chase's secure site
  • Rewards

    Earn 3X points per $1 on the first $150,000 spent in combined purchases in select categories each account anniversary year (travel; shipping purchases; internet, cable and phone services; and advertising purchases with social media sites and search engines), 1X point per $1 on all other purchases

  • Welcome bonus

    Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening

  • Annual fee

    $95

  • Intro APR

    None

  • Regular APR

    15.99% to 20.99% variable

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction fee

    None

  • Credit needed

    Good/Excellent

Terms apply.

The Chase Ink Business Preferred® is a great option to purchase the latest iPhone as you will earn 3X per dollar spent on internet, cable and phone services. However, your iPhone purchases will only code on your statement as a phone service if you purchase your phone with your cell phone provider, rather than Apple.

In addition, the card comes with a sizable welcome offer: 100,000 Chase Ultimate Rewards when you spend $15,000 on purchases in the first three months after account opening.

Along with being able to transfer your Ultimate Rewards points to airline and hotel partners, you can use your points to pay for on Apple products from the Ultimate Rewards store.

Additionally, if you pay for the monthly cell phone provider bill with the Chase Ink Business Preferred, your phone is automatically protected up to $600 from theft or damage. However, there is a $100 deductible per claim.

If you want cell phone insurance

Consider the Wells Fargo Active CashSM Card if you want a no-annual fee cash back card with good cell phone insurance. If you pay your monthly bill with this card you'll be covered up to $600 from theft or damage and will only be responsible for a $25 deductible.

Wells Fargo Active Cash℠ Card

On Wells Fargo's secure site
  • Rewards

    Unlimited 2% cash rewards on purchases

  • Welcome bonus

    $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months

  • Annual fee

    $0

  • Intro APR

    0% APR on purchases and qualifying balance transfers for the first 15 months from account opening

  • Regular APR

    14.99% to 24.99% variable on purchases and balance transfers

  • Balance transfer fee

    Introductory fee of 3% ($5 minimum) for 120 days from account opening, then up to 5% ($5 minimum)

  • Foreign transaction fee

    3%

  • Credit needed

    Excellent/Good

See rates and fees, terms apply.

However, if you want more coverage for your phone, consider an American Express card. With The Platinum Card® from American Express you'll be eligible for two approved claims (up to $800 each) in a 12-month period ($1,600 total). You will have to pay a $50 deductible per approved claim. The Amex Platinum also comes with great purchase and return protection

The Platinum Card® from American Express

On the American Express secure site
  • Rewards

    Earn 10X points on eligible purchases on the card at restaurants worldwide and when you shop small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of card membership, 5X points on flights booked directly with airlines or with American Express Travel (starting January 1, 2021, this applies on up to $500,000 per calendar year), 5X points on prepaid hotels booked with American Express Travel, 1X points on all other purchases

  • Welcome bonus

    100,000 Membership Rewards® points after spending $6,000 within 6 months of account opening

  • Annual fee

    $695

  • Intro APR

    None

  • Regular APR

    See Pay Over Time APR

  • Balance transfer fee

    N/A

  • Foreign transaction fee

    None

  • Credit Needed

    Excellent/Good

See rates and fees, terms apply.

Bottom line

Whenever you make a large purchase, it's always recommend to carefully select with credit card to place the purchase on. Credit cards are a great way to earn cash back and travel rewards, but are also offer great financing and consumer protections as a courtesy for your business.

So before you run out today to purchase the latest iPhone to show off to your friends, be sure to pick the right credit card for your circumstances.

Information about the Apple Card and U.S. Bank Cash+® Visa Signature® Card has been collected independently by Select and has not been reviewed or provided by the issuer prior to publication.

For rates and fees for The Platinum Card® from American Express, click here

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.