No. BookBook for iPhone does not contain any magnets whatsoever. The iPhone does not create or use magnetic material of any appreciable size either. If it did, it would interfere with the iPhone’s own internal Compass. Apple even warns against using any iPhone case with magnets. Finally, the notion that a cell phone could ever erase the magnetic strip on a credit card may be more myth than reality. Extensive internal testing has reaffirmed that credit cards will not be erased by being held in close proximity to your iPhone in a BookBook.
Will the BookBook case demagnetize my credit cards? Or will the iPhone?