Most Americans will use checking or savings accounts to pay their taxes this year. But more are reaching for credit cards.
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AmEx surveyed 1,518 adults between Feb. 27 and March 1, 2013. It also asked consumers receiving refunds how they will spend that extra cash. Many plan to use their refunds to improve their financial picture, either by paying down debts (37 percent) or padding their savings (26 percent). However, 28 percent plan to spend their refunds on travel, their families, home improvements or a big-ticket item.
The chart below shows survey participants’ planned payment methods for the taxes they owe in 2013.
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