The overall construction and durability (carabiner + cord + retractor mechanism) of this product is excellent. However, if your primary intent is to use this only for a security badge (no keys) - I would suggest looking at a cheaper alternative. After approximately one year, the badge holder loop broke. Thankfully my badge and bus pass were not lost. The badge holder loop is not (easily) replaceable as it attaches to the end of the retractor mechanism directly rather than the split ring. It would cost about the same to purchase a new one as it would to ship it back for replacement under the lifetime warranty so the warranty seems mostly like a useless bullet point.
Great quality !
Retract-A-Badge Carabiner Badge Holder
SUPER48 Heavy Duty Retractable Key Holder
SECURIT Retractable Carabiner Key Holder