Man Tweaks Credit Card Offer; Bank Doesn't Notice

Russian customer amended a mail-in credit offer, sues bank for ducking terms
By Neal Colgrass,  Newser Staff
Posted Aug 9, 2013 4:35 PM CDT
Man Makes Credit Card, Sues Bank for Ducking Terms
A man holding his credit card.   (Shutterstock)

(Newser) – Why not amend a credit card offer and send back your version? That's what one man did in Russia, and it kinda worked out for him, the Telegraph reports. Dmitry Argarkov, 42, scanned an offer from Tinkoff Credit Systems and changed the terms to his liking: no credit limit or fees, and a 0% interest rate. He also added the right to impose heavy fees on the bank if it didn't honor his contract. Tinkoff approved the deal, apparently without reading the fine print, and Argarkov took his new credit out for a stroll.

"The opened credit line was unlimited," says Argarkov's lawyer. "He could afford to buy an island somewhere in Malaysia, and the bank would have to pay for it by law." Argarkov resisted the temptation to go crazy, however, and had just a $575 balance when the bank tried to shut down the card after two years because of overdue fees, reports the International Business Times. When Argarkov refused to pay, the bank sued, and a judge gave Argarkov a partial victory: It ruled he owed only the $575, but not the fees because they weren't in his amended contract. Now Argarkov has filed suit against Tinkoff for $730,000 for not honoring the contract, and Tinkoff has retaliated with its own legal action. "Our lawyers think he is going to get not [$730,000], but really 4 years in prison for fraud," the company tweeted. "Now it's a matter of principle." (Read more credit card stories.)

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