Man beats bank at its own game
A Russian customer decides to rewrite a credit card contract, and now the company is complaining because it didn't read the fine print. Shoe, meet other foot.
Dmitry Agarkov didn't like the terms initially sent to him from Tinkoff Credit Systems in 2008, Russia Today reports. So he wrote in a few changes -- zero interest, zero fees and unlimited credit, mainly.
He then took it a step further. On the contract, he changed the URL of the website showing the bank's terms and conditions. He also stipulated that the bank pay him $91,000 for each change in the contract and $182,000 to cancel the deal altogether.
The bank approved the document without looking at the changes and sent Agarkov a credit card. Perhaps most amazing is that Agarkov then proceeded to use the card for two years before the bank caught on. Last year, the bank sued him for nearly $1,400, which included his balance, fees and late-payment charges, Russia Today reports.
A judge looking at the case sided mostly with Agarkov. A contract is a contract, after all. The judge ruled that Agarkov just needed to pay his balance of $575.
You get the sense that Agarkov is enjoying this. Now he's suing Tinkoff for $727,000 for not honoring the contractual terms that he added. But the bank is furious at this point, and founder Oleg Tinkov is suggesting on Twitter that Agarkov could go to prison for fraud.
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This guy is my HERO!
As we all know, a contract IS a contract and they accepted by sending him the card........
This is the best article I’ve reed in years, headline should’ve been; Man beats Bank by their own avidity.
LOL!!! Nice! Been there...done that!
Not with a credit card but with a company that I was contracted with. They used to send out "contracts" annually to all the people who did work for them out side of the office. In it was a stipulation that you couldn't have any clients outside of them, a non-compete clause as it were. I lined that out of my contract EVERY YEAR! Especially since when I came to work for them, I BROUGHT two solid income clients with me.
When they caught me working on my own, they got a bit annoyed and threatened to cancel my contract. When I pointed out to them that I was NOT in violation of that contract, they were screwed. And I figured I'd be without a contract the following year.
Not only was a I offered a contract the following year, but that line was omitted...from EVERYONE'S contracts. Word had gotten around the state about what I had done...and won! I was the first apparently to stand up to and beat them at their own game. But then, they also knew that if I left, I was going to take a lot more with me than the two I brought...and that would have hurt big time.
Glad he won...hope he takes them to the cleaners!
I hope he gets a card from Heritage Family Credit Union. It would serve them right.
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