Projected 32 Percent Decline in the Price of Gasoline May Mean Millions More Americans Hitting the Road This Summer
May 20 2015 - 6:00AM
Business Wire
Huntington Bank Issues Financial Tips to
Help Consumers Save Money and Protect Their Identities on the
Road
Consumers can expect a 32 percent decline in gas prices in the
summer of 2015 versus the summer of 2014, according to a recent
report by the U.S. Energy Information Administration. Drivers are
expected to pay an average of $2.45 per gallon for regular gas in
the summer of 2015 compared to an average of $3.59 per gallon in
the summer of 2014, the agency says.
To help the millions more consumers hitting the road, Huntington
Bank is issuing financial travel tips so that vacationers can make
wise money decisions during what is expected to be the busiest
travel season in years. The 10 tips are aimed at helping consumers
to save money and avoid identity theft.
“Many Americans chose not to travel during the economic
downturn,” said George Mokrzan, director of economics at
Huntington. ”Thanks to declining gas prices and an improving
economy these consumers feel more confident about their finances
and are ready to take a vacation. Huntington designed its financial
travel tips to help consumers enjoy their vacations and not worry
about making unwise financial choices or in the worst cases
becoming victims of identity theft.”
Not only are more consumers planning to travel, but more regular
vacationers also plan to increase spending this year. A consumer
sentiment study Huntington commissioned with the research firm
Ebiquity late last year, found that in its markets three out of
four consumers plan to take a vacation away from home in 2015, with
59 percent saying they will spend between $2,000 to over $5,000 for
the trip – an increase over the summer of 2014. Huntington’s
markets include Michigan, Ohio, Indiana, West Virginia and Western
Pennsylvania.
Huntington’s financial travel tips include:
- Budget, don’t binge: Develop a
budget before you hit the road and stick to it. It is all too easy
to overspend while on vacation. By spending in moderation and
paying for as much in advance as possible, you can avoid returning
home to unforeseen debt.
- Pick your payment: Before you
go, decide how you are going to pay for the trip. If you are going
to pay with a credit card, you may want to select one that will
give you rewards based on how you are spending during the vacation.
For example, if you are driving, select a card that will allow you
to obtain gasoline rewards while you are away. If you are going
overseas, select a card that does not charge extra for foreign
transactions.1
- Call your credit, debit and ATM card
banks and companies: Whether you are traveling internationally
or to a neighboring state, notify your credit, debit and ATM card
banks or companies that you are traveling and where you will be.
This will help ensure your card isn’t declined because of security
concerns.
- Protect your PIN: Never write
your PIN number on your credit/debit card or keep it in your wallet
with your cards.
- Check it daily: Be sure to view
your checking account and credit card balances every day. This is
easy to do with your phone or tablet and will help you to monitor
your spending.
- Look over your shoulder: Be on
the look-out for so-called “shoulder surfers” when using an ATM.
Use your free hand to shield the keypad when using an ATM.
- Stay alert and get alerts: Sign
up for text alerts from your bank so that if your checking account
dips below a certain balance, you will be notified.2
- You’ve got our number: Be
certain to keep your bank’s toll-free number with you so that if
questions or problems do arise, you can call for help.
- Secure your mail: Let the
post-office know when to stop delivering mail to your house and
when to resume--even if you are only going to be away for a day or
two.
- Be prepared: If your wallet or
purse is stolen or you suspect identity theft, report it to your
bank. Call the local police immediately and keep a copy of the
police report. Finally, contact the credit-reporting bureaus and
ask them to flag your account with a fraud alert, which asks
merchants not to grant new credit without your approval.
1For more information on the Voice Credit
Card® from Huntington that does not charge extra for a foreign
transaction, visit www.huntington.com/voice.
2Carrier’s message and data rates may apply
to alerts. For more information on mobile alerts visit:
https://www.huntington.com/mobile/alerts.html.
MethodologyThe third Huntington Bank Survey conducted by
Ebiquity between October 20-30, 2014 among 2,107 adults within
their surrounding community, representing five Midwestern regions –
Ohio, Michigan, Western Pennsylvania, Indianapolis and West
Virginia. These findings have a margin of error +/-2.1 percent at a
95 percent confidence level.
About HuntingtonHuntington Bancshares Incorporated
(NASDAQ: HBAN) is a $68 billion asset regional bank holding company
headquartered in Columbus, Ohio, with a network of more than 700
branches and almost 1,500 ATMs across six Midwestern states.
Founded in 1866, The Huntington National Bank and its affiliates
provide consumer, small business, commercial, treasury management,
wealth management, brokerage, trust, and insurance services.
Huntington also provides auto dealer, equipment finance, national
settlement and capital market services that extend beyond its core
states. Visit huntington.com for more information.
Member FDIC. The logo mark and Huntington® and Voice Credit
Card® are federally registered service marks of Huntington
Bancshares Incorporated.
About EbiquityEbiquity are independent marketing
performance specialists. Ebiquity enables brands across the world
to make better informed decisions to improve their brand and
business performance across integrated communications channels.
Learn more at ebiquity.com.
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Huntington Bancshares IncorporatedMaureen Brown,
614-480-5512Maureen.brown@huntington.com
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