"To report the bite" means to inform or notify someone, typically an authoritative figure such as the police or a supervisor, about being bitten by someone or something. Full definition
Businesses in town also reported a bit of a mediocre outlook for 2014, with fewer than half of the leaders saying they expected to hire within the year. (articles.chicagotribune.com)
The rescue group didn't report the bite as the law requires. (naiaonline.org)
Just be aware, while this will lower your interest rate, the card will probably be closed and it could hurt your credit report a bit. (getoutofdebt.org)