Magnets and Credit Cards: Understanding the Risks

Using strong magnets and credit cards can be a recipe for disaster. The magnetic stripe on the back of a credit card is vulnerable to demagnetization, which can render the card useless for transactions.

The magnetic stripe on a credit card contains sensitive information, including the card number, expiration date, and security code. This information is encoded in a way that's easily readable by a magnet, making it a prime target for thieves.

If a strong magnet comes into contact with a credit card, it can erase the magnetic stripe, causing the card to be declined at the checkout. This can be frustrating, especially if you're in a hurry or traveling abroad.

In fact, a study found that a magnet as strong as 1000 Gauss can completely erase the magnetic stripe on a credit card. This is equivalent to the strength of a refrigerator magnet.

Magnetic stripe cards are pretty cool, and they're actually quite simple. They're made up of a magnetic strip of tape attached to a plastic card.

The magnetic strip on the card includes three tracks, horizontally stacked across the length of the card. Each track holds distinct types and amounts of data.

Credit cards primarily use the first two tracks to store cardholder's information like the account number, name, and expiration date. This information is crucial for making transactions.

Track three is rarely used, but when it is, it stores PINs, country codes, or account restrictions.

To prevent damage to your credit card, it's essential to keep it away from magnets and devices with strong electromagnetic fields. This means avoiding storing your credit card near magnets on your purse, wallet, or fridge.

Prolonged exposure to magnets can affect the functionality of your credit card, so it's best to keep them separate. You can store your card in a wallet that provides some protection from demagnetization.

To avoid demagnetizing your card, face the magnetic strip away from any magnets that may be around, like those on a refrigerator or purse clasp. This simple trick can help prevent damage to your card.

If you're using a money clip, make sure it's not magnetic and only carry cash, not credit cards. This will reduce the risk of demagnetizing your card.

Here are some additional tips to keep your credit card safe:

By following these simple tips, you can prevent damage to your credit card and ensure it continues to function properly.

Magnets can erase or scramble the data stored on the magnetic strip of your credit card, including your name, account number, expiration date, credit limit, card number, and card usage information.

The longer a card is exposed to a magnet, usually an inch or closer, the more likely the magnet is to erase information on the magnetic strip.

Prolonged exposure to magnets can affect the functionality of your credit card.

Magnets in everyday items, such as refrigerator door magnets, can erase your card's data almost instantly.

Even a standard fridge magnet can demagnetize a card if it remains in close contact for too long.

You can still complete transactions with manual entry if your card becomes demagnetized, but you'll need to replace the card.

To avoid damaging your credit card, avoid storing it near magnets or other magnetic items. If your purse or wallet has a magnet on it, ensure the magnetic strip on your card faces away from the magnet to help avoid damage.

Here are some common sources of magnet exposure to watch out for:

Magnetic strips are a thing of the past, and most credit cards now have an EMV chip.

EMV chips are magnet-safe, so you don't have to worry about damage from magnets.

Scratches or prolonged exposure to water can cause damage to EMV chips, making them stop working altogether.

It's a good idea to handle your credit card with care to avoid scratches and water damage.

If your credit card becomes demagnetized, don't worry, cashiers can manually enter your card details to process the transaction.

You'll need to contact your bank to request a new card as a long-term solution.

In the event of a demagnetized card, the 16-digit number, expiration date, and CVV are all you need to provide to the cashier to complete the transaction.

Cashiers can quickly enter this information to get you on your way, no need to worry about a magnetized card causing issues.