Should I set a password for my credit card? This was originally a common-sense question, but some banks' relevant clauses will stipulate that "the card issuer shall consider the cardholder's own actions when conducting transactions with passwords" and "the cardholder shall bear the losses caused by improper storage of cards or passwords". Under this clause, many friends choose not to set a password. can I claim compensation if I swiped the bank without a password? Now most banks have introduced the "lost card protection" service, which really seems to be a kind of protection for cardholders. But in fact, it is not easy for banks to take risks, and the following conditions must be met. 1. First, judge whether the bank to which the credit card belongs provides "lost card protection" service. Not all bank credit cards provide "card loss protection" service, and there are more than ten banks that have opened this service in China, including China Bank, China Construction Bank, Bank of Communications, China Merchants Bank and Guangfa Bank. And some banks have specific provisions on this service. For example, some banks only provide this service for a certain area, and some banks only provide this service for overseas transactions. Therefore, when you apply for a credit card, you must ask whether the bank provides the service and under what circumstances. 2. Report the loss in time, and the loss reporting fee shall be paid. Under normal circumstances, the bank provides a 48-hour guarantee for credit card holders, that is, if the credit card is stolen within 48 hours before the loss is reported, it can apply to the bank for compensation. However, some banks clearly stipulate that the losses before reporting the loss shall be borne by the cardholder. So when the credit card is lost, it should be reported immediately. 3. Report to the public security organ. When a bank receives a claim, some banks need to have a report voucher for post-processing and conduct an investigation. Only when the bank determines that it is indeed a stolen brush can it be compensated. 4. There are restrictions on the amount of claims. The possibility of getting full compensation from banks is very small, and many banks have set the upper limit of claims, such as the construction bank's 48-hour Puka within 5, yuan and the gold card within 1, yuan; China Merchants Bank will spend less than 1 million yuan on a 48-hour card and less than 15, yuan on a gold card. 5. There are restrictions on the path of stealing brushes. Not all stolen swipes are within the scope of "lost card protection". Generally, only the losses caused by POS card swiping are compensated. Banks are not responsible for the stolen swipes through online transactions, telephone transfers, ATM credit card withdrawals, etc. 6. There are many application materials, and it takes a long time to settle claims. When applying for claims, most banks need to provide the Application Form for Card Loss Protection, the report certificate of the public security organ and other complete claim materials, and then send them to the designated address to wait for the result. Usually, the credit card center will give the cardholder a reply within 3 days after receiving all the information. If you don't set a password, it is difficult to claim for credit card security problems; After setting the password, the bank will not pay for the stolen credit card, which puts the credit card applicant in a dilemma. It is said that although foreign credit cards don't have passwords, once they are stolen, the bank will compensate them, but domestic users had better double insurance by "setting passwords" and "signing".