How To Protect Credit Card Magnetic Strip

The black strip on the back of your credit or debit card is magnetized and stores information about your account. When the strip is swiped, the merchant accesses your private information so you can make your purchase. If the magnetic strip is physically altered or demagnetized, the "swipe and buy" process cannot be completed.

Keeping your card away from items that will damage the card can help protect the strip. Discarding your old cards properly minimizes the risk of thieves extracting the information embedded in your card's magnetic strip. Store your credit card in your wallet or a credit card holder instead of loose in your purse or pocket. Switch to a wallet that does not have a magnetic clasp or closure if you have recurring problems with your credit card strip.

Place your credit cards in the same direction when storing them in your wallet or other holder. Putting two different credit cards back to back, with the magnetic strips touching each other, can demagnetize one or both of the strips, rendering them useless. Keep your credit card in a paper or Tyvek plastic sleeve to protect the strip against physical damage and demagnetization. Some banks provide paper sleeves to their customers.

You can also buy sleeves commercially to protect all of your cards. Cut up an old credit card that you are no longer using, rather than just tossing it into the trash. According to Your Credit Network, an online credit card information resource, even if your account is no longer active, the magnetic strip holds secure data about you and your spending habits.

Hackers can potentially access the information if the strip is whole. Lose Weight. Feel Great! AGE lbs. WEIGHT ft. What Happens When a Credit Card Account Is Charged Off, Side Effects of Veet Waxing Strips What Does Discharge Mean on Credit Card Debt, How to Check My Credit Card Statement How to Cook a Sirloin Strip How Do I Make My Own Nose Strips to Remove Blackheads, Penalties for a Falsified Credit Application What Happens When a Checking Account Is Garnished, What Happens With Credit Card Debt If You Move Abroad,

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Carrying a balance on your credit card usually means you'll have to pay interest, in the form of a finance charge. Keeping your credit card free, or at least lowering the expense of having a credit card, means avoiding credit card interest. What's Wrong With Paying Interest, When you pay interest on a credit card balance, you're essentially paying for the convenience of repaying your balance over a period of time. The downside to paying credit card interest is that you ultimately pay back more than you borrowed and you have less money for your daily living.

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