i do not see the chip on anything i have
but i have heard that the magnetic strips
can be damaged if they touch each other
so that you should not put them together
in your pocket wallet or purse...if you
do you should make sure the strips are
away from each other...

that reminds me of a funny thing a cashier
said to me once when giving directions for
how to position a card in the card reader..

i do believe that the exact words were:
"strip down and facing forward" which
caused a startled reaction from both of us!!