A rewritable card printer useful as a rewritable card printer. The rewritable card printer includes a print module coupled to one or more separate card magazines, each having independent card drives. The operation of the print module and one or more card magazines are controlled by a printer controller. Cards may be exchanged between multiple card magazines so that cards can be escrowed, exchanged, or selectively located and retrieved. The print module may receive as well as dispense cards from and to an external card source so that the card magazines may be replenished without opening up a gaming machine hosting the rewritable card printer. The print module may further include a security device reader that is used to read security features embedded in the cards. The security features may be used to track individual card use and to guard against card duplication and fraud.