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One of Apple's biggest sales points is consistently 3% cash back on all Apple purchases, whether it's a new Mac, AirPods or even Apple services like Apple Music and iCloud storage. While it may seem like a no-brainer to use your Apple card to buy your next iPhone, we've done math and figured out there's another card that knocks out Apple, and it's American Express Cash Magnet® card. There are three reasons why I want to use this card over the Apple card for my next iPhone: rewards, protection, and compatibility.
Earn more in rewards
At first appearance, Apple Card 3% cash back on all purchases made at Apple is a tough perk to beat 1
However, the American Express Cash Magnet® Card offers both of these. New cardholders will earn a $ 150 statement credit after spending $ 1,000 or more in purchases within the first 3 months of Card Membership. A single feat considering a new iPhone XS costs $ 1000. Even if you bought the iPhone XR at $ 750, you're just $ 250 shy to earn the credit, not a difficult task considering you have 3 months to complete it.
The card also has an intro-APR of 0% for 15 months on purchases and balance transfers (then a variable rate, currently 15.24% to 26.24%). This essentially means that you will not only make more money back than the Apple card when you buy your next iPhone, but you will enjoy interest payments for the first 15 months, plenty of time to pay off the new device.
Protection for your new iPhone
One of the biggest missed opportunities with the Apple Card is the lack of AppleCare + as a short advantage to protecting your iPhone from accidental damage. While using your Apple card to purchase your new iPhone from Apple, there is nothing like an extended warranty or accidental damage protection found on the card.
The American Express Cash Magnet® Card provides some benefits to protecting your new iPhone purchase. The first is an extended warranty, which will extend your iPhone's warranty by up to two years as long as it is considered a qualified purchase. The other is Purchase Protection, which for eligible purchases will protect your new iPhone from accidental damage and theft for the first 120 days of purchase. It's not AppleCare +, which you can pay monthly or yearly to cover your iPhone forever, but it's 120 days of unintentional unintentional damage and theft protection.
Don't get locked into a merchant
While 3% cash back on purchases at Apple is great, it also limits your rewards to being earned on Apple. Many places sell Apple products now, and Apple Cards highest cash back level is useless by any merchant in addition to the brand itself. That means if you find a good deal on a new iPhone at Best Buy, Target or your carrier, you won't be downgraded to either 2% or 1% cash back (depending on whether you can pay with Apple Pay).
The American Express Cash Magnet® Card, on the other hand, is not affiliated with any particular seller. You'll get the $ 150 credit, 0% 15 month, 1.5% cash back, extended warranty, and purchase protection no matter what merchant you buy it. This gives you so much more freedom and opportunity to shop and make the best of your new iPhone even better.
Apple Card is a fantastic credit card with lots of benefits, but don & # 39; Don't limit yourself when it's time to get your new iPhone. Buy it wherever you want and earn the most benefits and benefits you can!
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