I initially saw this via a Professional Organizer who spoke to our group.  I thought to myself - why would I pay that much for a little wallet to hold those cards?!  Until that point, i had a ton of cards, either in my real wallet (making it really fat), or, in yet another holder.  I finally broke down and bought this thing - and I'm really loving it.  I can finally take the non-essential cards out of my wallet so it can be a normal size, and now I have something that is alphabetized.  It is so much faster for me to find a special credit card (that I don't use often), or, to find that "rewards" card I'm looking for.  I got the Red Croco because it matches my other stuff.  It seems like good quality.  I can't speak to the magnetic latch because I haven't had it "that" long for it to wear out.  I love this little product!  I would even buy it as a gift if I knew someone else had a lot of cards to keep up with.  I saw the other colors and styles - they are really cute too - I don't think you can go wrong with what you pick.