Final answer:
It is not recommended to place credit cards with magnetic strips near permanent magnets.
Step-by-step explanation:
It is true that it is not recommended to place credit cards with magnetic strips near permanent magnets. This is because the magnetic field from the permanent magnet can interfere with the magnetic strip on the credit card, potentially corrupting or erasing the data stored on it.
The magnetic strip on the back of credit cards contains important information that can be read and written through a swiping motion. The physical reason behind this is electromagnetic induction. Placing the credit card near a permanent magnet can disrupt this process and cause issues.