I had a bad experience with bungies on an offroad cycling tour 20 years ago. Tooling around in a field, I lost my sleeping bag off the back rack. when I got to camp an hour later, I'd found the bag had slipped out. Had to backtrack and run a grid search in fading light to find it.

I've been wary of them ever since for anything other than holding down drying laundry. And that's always tied down as a safety measure. You could tie fixed loops of the right circumference using true lover's knots around your back rack and eliminate the hooks altogther.

I have taken to using them again in very limited applications, like water bottle safeties, but not for any important gear. I just got some SUPER STOUT mini military ones that are twice as strong and half as thick as the commercial kind. They have some possibilities.