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2.
adj.: of a magnetic-strip card, to have lost its information due to over-use.
I wanted to buy some new gear, but my credit card was all swiped-out, I have to get a new one.
by André April 22, 2004
 
1.
1) Demagnetized; the state of a credit or debit card which has been run through a card reader too many times.
2) Unable to access money in the bank due to the phenomenon of being swiped out (def. 1).
I gotta fill the tank, but my card's been swiped out.
by tomte May 19, 2004