What Is Spi Direct Service Charge On Credit Card?

Most people have been charged with the SPI Direct Service Charge, while they look at their bank statements, and they have no idea about what it is. Don’t Worry!! We will make you familiar with this service charge with this article. 

SPI Direct is a prominent credit card issuer company. But, sometimes, it imposes heavy charges on your credit card, which may be quite puzzling. 

Let’s clear your confusion on the SPI Direct Service Charge by providing complete details on it to you. 

What Are SPI Direct Service Charge On Credit Card?

SPI Direct is a very popular credit card issuer company, that provides various types of credit cards to their customers to meet their different needs. It is one of the most trusted and reputable card-issuer companies. 

Despite providing credit cards, they also impose some service charges to the Credit Card called SPI Direct Service Charge. These charges can depend on the type of the Credit Card and its terms and conditions highlighted in the agreement. 

These are the extra charges that will be added to your Credit Card interests or outstanding balance. 

SPI Direct Charges appear on your Bank Statements as 

• SPI DirectService
• SPI*Direct
• SPI DirectSPI Direct 8007727117

Types Of SPI Direct Service Charges

There are different types of service charges imposed by SPI Direct on your Credit Card. These are the following- 

1. Annual Fees: Annual fees either can be fixed or variable. Annual Fixed charge means you will impose a specific amount of fee yearly. But, in variable fees, the amount of the annual fee depends on your credit score. 

2. Late Payment Fees: These fees are a kind of penalty, usually imposed when you fail to make your monthly credit card payment before its due date. 

3. Overlimit Fees: When cardholders exceed the limit of their credit card, they are often charged with the Overlimit fee. 

4. Foreign Transaction Fee: In this, you will be imposed with two types of Foreign Transaction Fee- Exchange Rates and Currency Conversion Fees. 

Also, read What Is Erac Toll Charge On Credit Card?

Why SPI Direct Charges Services Fees?

These are some of the reasons why SPI is forced to charge your credit card with their Service fees charges. 

1. Revenue Generation: They made revenue by imposing service fees on your bank statements to enhance the financial stability of their company. 

2. Cost Recovery: They will recover the cost of the different services from your charged fees. Like, account maintenance, enhanced customer support, and other credit card services. 

3. Customer Services: They use those service charges for the maintenance of their customer support services so that they can provide you with the best services, whenever you need assistance from them. 

How To Avoid SPI Direct Service Charges?

To avoid the SPI Direct Service Charges on your Bank Statements, you can do the following methods. 

Timely Payments

Make sure that you make all of your monthly payments on time, to avoid the Late Payment Fees. 

Keep A Check On Your Credit Limits

Make sure that you regularly monitor your Credit Card Limits. With this, you can easily avoid the Overlimit Fees. 

Selecting Low-Fees Card

Choose the Lower Annual Fees Credit Cards and Foreign Transaction Charges. So, that your overall service charges will be reduced. 

Contacting SPI Direct Service Customer Support

If you have issues related to your service charges, then you can contact the SPI Direct Service team and ask them for clarification on the specific imposed fee to your Credit Card. 

Conclusion

SPI Direct Service is a genuine company, which means the service charges they impose on your Credit Card are completely acceptable. These charges are a kind of penalty, which you have to pay whenever you violate any terms and conditions of their credit cards. 

But, if you are unnecessarily charged with these service charges, then you need to contact the SPI Direct Customer Support team to ask them about the issue and get their help to solve it.