1. Is it free to report the loss of credit cards?
Except the top high-end cards of individual banks provide free loss reporting service, other ordinary credit cards are charged for loss reporting. The loss reporting fee is 20-60 yuan, and the charging standard of each bank is different, so is the loss reporting fee. In addition, if you need to reissue the card after reporting the loss, you have to pay the card replacement fee again. The loss reporting fee is around 50 yuan, depending on the issuing bank.
The above two expenses are directly deducted from the credit card limit. After the report of loss and replacement of the card is successful, it will be included in the current bill. Remember to pay back on time.
2. Why can't a credit card report the loss for free?
This is mainly because many banks provide credit card loss reporting protection service, and you can enjoy this service by paying the loss reporting fee. If the credit card is stolen during the loss reporting period, the bank will compensate for the loss.
However, not all credit cards can be compensated by paying the loss reporting fee, and the compensation amount is not 100%. Even the transaction form of stolen credit cards will affect compensation, mainly based on the detailed rules for the protection of lost cards.
To sum up, credit card loss reporting is not free, so everyone should pay attention to it. If you don't want to pay the loss reporting fee and replacement fee, and don't want to continue using your credit card, I suggest you settle your credit card debt and take the initiative to find a bank to cancel it. Then re-apply for a credit card to continue to use, but it is still unknown whether the card can be approved.