My previous clip was similar.  I prefer the clip, not the magnet.  My last one I had for 8 years and it was getting a little frayed but was still solid until the dogs ate it last weekend.  This one is even better!  The side pocket holds 5 cards and each of the front slots hold 2 each.  Excellent build quality and leather thickness.  And no lining like my last one.  If i don't lose it and keep it off the floor, this one should last many more years!!