Do Cell Phones Demagnetize Credit Cards?

In general new credit cards with EMV technology are far less likely to become demagnetized by cell phones or other magnetic items. However, Wireless charging has a much stronger magnetic field, so it’s worth removing hotel key cards, subway, and other travel cards from a phone case before charging.

What is a Demagnetized Credit Card?

If you can cast your mind back to elementary school when you learned about how magnets repel, and how the magnetic field is affected when two magnets come in close contact, then you are on the right track. 

Magnetic fields can be affected when credit cards come in close contact with other materials that are magnetized.So when your credit card and other magnetized items come in fairly close contact, the magnetic field is affected and it can actually stop your card from working. Luckily you’ll be pleased to know that for any long-term damage to occur it would take a number of magnet interactions. “Magnetic fields can be affected when credit cards come in close contact with other materials that are magnetized.”

Why is the magnetized strip not working on your credit card?

If the magnetic strip is damaged on your card, the card reader that you either swipe or insert it into won’t be able to receive information such as your credit limit, account number, or available funds. The reader needs to retrieve that information before it processes the transaction. This is what’s known as demagnetization. Although general wear and tear to your phone is the usual culprit, prolonged exposure to magnetized items over time can ruin the magnetized strip. In general most of the newer credit, debit and store cards we use usually has EMV technology. This has all but replaced the old type and in general, is more robust when it comes into contact with another magnet. “In general most of the newer credit, debit, and store cards we use usually have EMV technology.”

Will my cell phone demagnetize my credit cards?

It’s worth knowing that the magnetic field on your phone is located in your phone's speaker. In general, the magnetic field on your phone speaker is too weak to cause too many problems. So it shouldn’t cause any damage to the magnetic strip on your credit card.

This is one of the reasons that your phone doesn’t randomly attach itself to a paper clip or other small metal items. Almost all newer cards we use these days have a chip inside them which means your phone won’t have the power to wipe information off your card if it passes by your phone speaker. What a relief. The natural deterioration of your card will mean that the strip might begin to lose magnetization and even if you do keep your credit cards separate from your other cards, it may still need replacing. Ok, so although the newer credit cards with EMV technology don’t seem as susceptible to losing magnetization, is it the same when you charge your phone? “In general the magnetic field on your phone speaker is too weak to cause too many problems.” Source