credit saver
- how to read
- How to read in Japanese: credit saver
- synonyms
- antonym
A credit saver is an insurance policy that waives payment of unpaid charges when the insured becomes unable to pay credit card charges due to certain circumstances, such as death of the insured.
Also known as credit debt forgiveness service. The higher the monthly credit card usage, the greater the amount forgiven and the more you benefited. However, as of May 2018, credit companies have stopped offering the credit saver service.
Therefore, when a credit card user dies, the obligation to repay unpaid charges passes to his or her children and other heirs. If the debt is greater than the estate, it is advisable to take steps for disinheritance or limited approval.
If you lose income due to illness, you will be considered for debt consolidation.