At one point or another, most of us have heard that you should not let your credit card come into contact with a magnet. But do the dangers actually exist, or is it simply an old wives’ tale that does not hold any legitimacy? In this blog, we are breaking down the science behind it. Uncover if this is fact or fiction when you continue reading!

Do All Magnets Pose a Risk to Credit Cards?

While the range of magnetic strength found in common items like keychains, wallets, eyeglass cases, and more is unlikely to cause any real damage to your credit card, experts recommend exercising extreme caution by avoiding exposure to magnetic materials altogether. High magnetic levels that can easily damage credit cards are found in devices like speakers, medical equipment such as MRI units, and industrial equipment, to name a few, leading to demagnetization. This phenomenon can also occur if the magnetic strip is scratched or mistreated.  

 

Following years of data and research exposing this critical flaw in the current system, the credit card industry is taking action to prevent demagnetization entirely by introducing a new EMV technology (Europay, Mastercard, and Visa). This technology works by generating a unique code for every transaction via a small, embedded microchip. Benefits not only include enhanced security but also assurance that the card cannot be demagnetized if it comes into contact with a strong magnetic field. For these reasons, microchip technology, unlike its counterpart, provides a better, safer, and more secure way to process payments without the concerns that have plagued the industry and interrupted functionality for thousands of customers worldwide. Although EMV technology has yet to be standardized in the US, the credit card industry is committed to making EMV available to all consumers at home and abroad. 

 

Discovery Never Ends at Apex Magnets 

Magnets are a crucial part of our society today, with applications in industry, medical equipment, clothing and jewelry, and more. At Apex, we are proud to be your trusted source for all things magnets. From the latest news and DIYs to our full-service online store, the resources you need are just a click away. Visit our weekly blog for inspiration and pick up the supplies you need with same day shipping available on all orders placed before 3 PM EST. Our expert staff is always here to answer any questions you may have about your projects. Simply give us a call at 1-304-257-1193.