Looking for people actually doing this, and I stumbled up this interesting article:
It's crazy, if your electro magnet is strong enough, you don't even need a tin foil wrapped credit card to put in the machine!
It's crazy, if your electro magnet is strong enough, you don't even need a tin foil wrapped credit card to put in the machine!
And the card schemes are mandating the issuers to keep track whether a card was issued with a chip and then reject authorisation attempts with a magstripe that claims "no chip" available.
That being said, in reality there are again and again still issuers who did not implement this and similar security measures [1].
[1] https://krebsonsecurity.com/2020/07/is-your-chip-card-secure...