This is made fine, and would work for a luggage strap if your luggage is falling apart.

But security-wise, don't bother, for several reasons:
1.  The buckle is actually plastic
2.  There is always a way to just slide the belt over, so you can get into a suitcase.  It isn't secure at all, even if you tighten it.
3.  The TSA keys are publicly available by thieves.