What is BALANCE PROTECTION?

Insurance that makes minimum monthly payments for credit cards. Its done if the insured is injured or unemployed. A percentage of the balance is the premium. It is added as a fee on the balance monthly.

More On This Topic



Link to This Definition
Did you find this definition of BALANCE PROTECTION helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary