Planning on getting the new iPhone 15? Here are the best credit cards to maximize your purchase

Apple just released its new iPhone 15 lineup with plenty of new features. 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.

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

Here’s a breakdown of how much each iPhone 15 model will cost:

• iPhone 15: Starting at $799
• iPhone 15 Plus: Starting at $899
• iPhone 15 Pro: Starting at $999
• iPhone 15 Pro Max: Starting at $1,199

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.

Unfortunately, there's no way to get a discount on iPhone purchases, even if you're eligible for Apple's education pricing. However, if you have no use for your current phone, you may be able to save up to $1,000 depending on its condition and type of phone.

If you want to earn cash back and use special financing

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% of 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 upfront. Learn more about Apple Card Monthly Installments.

If you want to earn a good welcome bonus

With the Chase Sapphire Preferred® Card, you can earn a 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 redeemed through Chase Travel℠ and potentially much more if you transfer the points and redeem them with the right travel partner like United or Hyatt.

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

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 15 purchase.

This card can earn you 2% more cashback than the Apple Card. If you purchase the iPhone 15 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 rewards 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

The Chase Ink Business Preferred® Credit Card 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 through your cell phone provider, rather than directly from Apple.

In addition, the card comes with a sizable welcome offer: 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Travel^SM.

Points are worth 25% more when you redeem for travel through Chase Travel^SM.

Additionally, if you pay for the monthly cell phone provider bill with the Chase Ink Business Preferred, your phone is automatically protected up to up to $1,000 per claim against covered theft or damage for you and your employees listed on your monthly cell phone bill. Maximum of 3 claims in a 12 month period with a $100 deductible per claim.

If you want cell phone protection

Consider the Wells Fargo Active Cash^® Card if you want a no-annual-fee cash-back card with good cell phone protection. 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.

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. Terms apply.

You may also consider the Capital One Venture X Rewards Credit Card (see rates and fees) as it comes with up to $800 in cell phone protection, as long as you pay your monthly cell phone bill using the card. If your cell phone is stolen or damaged ($50 deductible) *Terms, conditions and exclusions apply. Refer to your Guide to Benefits for more details.

If you want an extended warranty or purchase protection

Separate from ongoing cell phone protection, some cards offer extended warranty and purchase protection. One of the best cards for this type of coverage is the Citi Premier® Card.

If an item is purchased with the Premier card and is damaged or stolen within 90 days of purchase or delivery of the item, you may be eligible for repair or replacement. You are covered for up to $10,000 per Incident, up to $50,000 per year, per Citi Card account. Even better, there's no deductible when taking advantage of these benefits.

Additionally, Citi will extend the manufacturer's warranty for an additional 24 months beyond the provided manufacturer warranty, which is one year. So in the event of a covered failure after one year of ownership, Citi will step in to cover the repairment or replacement costs or reimburse up to the amount charged on your Citi Card, excluding shipping and handling, or $10,000, whichever is less.

If you regularly make Apple purchases or plan to make an expensive purchase in the near future, there's an additional way to earn even more rewards — and it's extremely simple.

You can use what's called a shopping portal, which is a website that earns you bonus cash-back, points or airline miles by buying the same product (at the same price) simply using their link. For example, at the time of writing, the Delta SkyMiles shopping portal is 1 bonus mile per dollar spent on purchases from Apple.

To take advantage of this, head to your preferred shopping portal, search for the merchant you'd like to shop from — in this case, Apple — and then click through to be redirected to its website. Place your order as you normally would and then check back a few days later for the rewards to post.

There's just one big caveat: Apple's newest releases are typically ineligible to earn rewards. So, this strategy probably won't help you save on your iPhone 15 purchase, but you can use it if you're ordering an older model or different product, such as a laptop.

Whenever you make a large purchase, it's always recommended to carefully select which credit card to place the purchase on. Credit cards are a great way to earn cash back and travel rewards, but 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.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best credit cards.

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Information about the Apple 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

*Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.