swiped out
adj. Relating to a credit card or bank card with a magnetic strip that no longer works.
Yuppie Food Stamps: The $ 20 bills spewed out of ATM machines, usually to pay for lunch. Unavailable if the user has been 'swiped out,' i.e., if the magnetic strip on the ATM or credit card has been worn off from overuse.
—Ben Steelman, “Slangin' it,” Morning Star, July 22, 1999
1996 (earliest)
Swiped Out
An ATM or credit card that has been rendered useless because the magnetic strip is worn away by extensive use at gas pumps, grocery checkouts, and bank machines. "We wanted to stop for suds, but my card was swiped out and I couldn't get cash."
—Gareth Branwyn, “Jargon Watch,” Wired, July 01, 1996
This word appeared originally in Gareth Branwyn's "Jargon Watch" column (Wired magazine). I've been keeping an eye on this word, and as I write this (January 2000), it still hasn't made it into the usage mainstream. Although the Nexis database has many citations, they're all rip-offs of Mr. Branwyn's original definition. I've yet to see this phrase used in a "natural" way (including the first citation shown here).
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