A magnetic money clip gets its name from the fastening device – a magnet. While the magnetic fastener makes a good fastener for bills, it does not make a good fastener for credit cards as it can de-magnetize them. Often leather clips will use a magnetic fastener. When purchasing a clip, make sure you know what the user intends to use the money clip for; if its cash only a magnetic clip will work perfectly. If the carrier wants to carry credit cards, look at the money clip credit card holder or money clip wallets or hinged money clips.
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