Magnetic Card Trouble

One day in line for the automatic teller I overheard:

- Person 1: Gee, I don't get it..

- Person 2: What's wrong?

- Person 1: My card wont work.

- Person 2: Did anything happen to it?

- Person 1: I don't think so... It wasn't working very well for a while, so I rubbed the strip on the back with a magnet to recharge it... Now it isn't working at all!