MAGNETIC CARGO STRAP RETAINMENT DEVICE

An adjustable magnetic device for retaining a tie down strap and hook when securing a load in a vehicle. The magnetic device comprises a fitting slidably positioned on a cargo strap adjacent the hook and a magnet receiving fitting that attaches to a vehicle. A pair of oppositely disposed strap access openings and for frictional retainment therebetween provides secure retainment on the cargo strap with the oppositely disposed position magnet exposed for attachment to the surface of the vehicle. The magnetic strap retainment device selectively holds the cargo strap in position after initial strap hook engagement allowing the opposite end of the strap to be engaged and secured over the load on the vehicle.