This card could be used if you equipped to attack then chose to not pay the Life Points on the following turn. This way you get a strong attack and your monster is protected until your next turn.
A good monster to use this on would be "Raging Flame Sprite". You get a 1100 direct attack, it'll have 2100 to survive until the next turn, then choose not to pay the cost. After attacking for another 1100 it'll have 2100 ATK again to survive further.
You can combine this with Life Point gaining cards like "Solemn Wishes" to make up for the cost.