What does balance protection mean?

balance protection meaning in Law Dictionary

Insurance that produces minimum monthly premiums for bank cards. Its done if insured is hurt or unemployed. A percentage regarding the stability may be the advanced. It really is included as a fee in the balance monthly.

balance protection meaning in Business Dictionary

a form of insurance policy that will make minimal monthly payments on credit cards account in the event that cardholder becomes hurt or unemployed. Balance protection coverage emerges by credit card issuers. The premium for protection is calculated as a portion of the stability, and it is added as a fee from the monthly statement.