Yes, however, the reality of it happening during normal day-to-day life is quite rare. Credit cards incorporate a magnetic substance that forms the ‘magnetic strip’ on the card.  This is then covered by a thin but very tough and durable film of plastic.  Most magnets we encounter during the day are not even visible and are built into devices such as smartphones, tablets, speakers etc...and so your credit card would not get close enough to the magnet and the magnet would not probably be strong enough to cause an issue. If you were having an MRI scan or were handling large, powerful magnets then, naturally you would ensure your credit card was out of the way. Although the risk not high we would always recommend keeping your credit card away from magnets as ultimately, they can be damaged by magnets.