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Swiped Out

An ATM or credit card that has been used so much its magnetic strip is worn away.

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Source: Business slang

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Slang is

"very informal usage in vocabulary and idiom that is characteristically more metaphorical, playful, elliptical, vivid and ephemeral than ordinary language" (Random House Unabridged Dictionary) - learn ~600 slang expressions

An idiom is

an expression "whose meaning is not predictable from the usual meanings of its constituent elements… or from the general grammatical rules of a language"

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