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Will your credit card become unreadable if it's exposed to magnets?
In a previous story, we said yes, but many of you begged to differ.
"Running a magnet across the strip will do nothing," said one commenter on our video at You
Thieves attach them to ATMs, gas pumps, point-of-sales (POS) systems and other places people swipe their credit and debit cards.
Seeing that, we took the challenge of clearing things up once and for all.
The result: With the help of a junkyard magnet, a garden-variety refrigerator magnet and a professor with a vast knowledge of magnetics, we were proved right -- eventually.
Once in place, this sneaky bit of electronics steals the magnetic strip information from your card.
The thieves use this information to clone your card, and once they have a clone, they can drain your bank account, or run up huge bills and trash your credit before you even know it.
If they have a question about the ad, you can comfortably speak about the business.