universal default
Definition
Use universal default in a sentence
“ The woman must now pay the universal default rate on her credit card because she made too many late payments and her credit score dropped. ”
“ They knew they had to keep up with their minimum payment or the credit card company could raise the interest to the universal default rate. ”
“ The credit card came with a low interest rate initially but when the customer failed to make two on time payments the universal default rate went into affect which proved to be very costly for the customer. ”