Magnets Are Not Card-Carrying Friends
Most people carry their ATM card or credit card in a wallet or purse. Each card has a magnetic strip that stores information about your account and allows access to automated teller machines. If you place a magnet near the cards, the data on the magnetic strip could be erased. So be careful, you don’t want to be surprised by having your information disappear. If any of your credit union cards are not working, immediately apply for a replacement.
*Source: Dollars, Sense, and You. Pacul Services, Inc.