Apply for cancellation. According to the people's bank of China, you can apply for cancellation after reporting the loss of your credit card. If you report the loss of a credit card orally, you don't need to unhook it at this time, and it will be automatically unsealed after it expires. Oral loss reporting is valid for 5 days, and the credit card will be automatically unsealed after 5 days. Credit card, also called debit card, is a credit certificate issued by a commercial bank or credit card company to eligible consumers. It is a card with name, expiration date, number and cardholder's name printed on the front, and a magnetic stripe and signature strip on the back.