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arcane1

(38,613 posts) Thu Nov 28, 2013, 07:00 PM Nov 2013

Man who created own credit card sues bank for not sticking to terms. [View all]

When Dmitry Argarkov was sent a letter offering him a credit card, he found the rates not to his liking.

But he didn't throw the contract away or shred it. Instead, the 42-year-old from Voronezh, Russia, scanned it into his computer, altered the terms and sent it back to Tinkoff Credit Systems.

Mr Argarkov's version of the contract contained a 0pc interest rate, no fees and no credit limit. Every time the bank failed to comply with the rules, he would fine them 3m rubles (£58,716). If Tinkoff tried to cancel the contract, it would have to pay him 6m rubles.

Tinkoff apparently failed to read the amendments, signed the contract and sent Mr Argakov a credit card.

-snip-

http://www.telegraph.co.uk/finance/personalfinance/borrowing/creditcards/10231556/Man-who-created-own-credit-card-sues-bank-for-not-sticking-to-terms.html

80 replies

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Highlight:

Man who created own credit card sues bank for not sticking to terms. [View all] arcane1 Nov 2013 OP

k&r ... idwiyo Nov 2013 #1

it's always a matter of principle onethatcares Nov 2013 #2

In this case, a matter of principal. Orrex Nov 2013 #37

there for a moment onethatcares Nov 2013 #38

Better to pun, I say! Orrex Nov 2013 #41

Brilliant malaise Dec 2013 #64

I love this! n-t Logical Nov 2013 #3

, blkmusclmachine Nov 2013 #4

Seems pretty air-tight to me. If they signed/approved the contract he's got em. tridim Nov 2013 #5

Ahh.. but Argarkov didn't fix the fine print..... "we can screw you but you can't screw us" groundloop Nov 2013 #6

This is an interesting case in contract law. What he did is essentially a counter offer and they Monk06 Nov 2013 #7

That's what I'm thinking Gman Nov 2013 #12

Sounds that way to me. nt Demo_Chris Nov 2013 #17

That's exactly right...most contracts - even big securities deals - are negotiated by alteration alcibiades_mystery Nov 2013 #18

I'm guessing that the bank will come out on top. Ms. Toad Dec 2013 #75

OH Man I wish someone had done that to an American bank. diabeticman Nov 2013 #8

I did something similar to my HOA Major Nikon Nov 2013 #9

I hate HOAs BainsBane Nov 2013 #50

I don't know, it sounds like the guy might be doing some serious prison time over this. LAGC Nov 2013 #10

:facepalm: jeff47 Nov 2013 #23

No, this is fraud and he will be fined or do time or both. ryan_cats Nov 2013 #28

Great examples that have nothing to do with this. jeff47 Nov 2013 #29

+1 grahamhgreen Nov 2013 #30

Well we'll just see. This will not end well for your hero. ryan_cats Nov 2013 #40

Why do you repeat yourself? You put the same two sentences that fit in your ChisolmTrailDem Nov 2013 #48

I've been doing it for eight years and no one has complained ryan_cats Nov 2013 #54

I'm sorry to have given you the vapors. Maybe a little time in the sanitarium in the country will ryan_cats Nov 2013 #55

Well, he can't find the "edit" link either, so I wouldn't expect much (nt) jeff47 Dec 2013 #58

How can you have 9,621 post since 2008 and I have 960 something since 2005? ryan_cats Dec 2013 #62

Guess what? Snark doesn't cover up being wrong. (nt) jeff47 Dec 2013 #66

SO, you're admitting your wrong? ryan_cats Dec 2013 #69

Wow, you really have a reading disability, don't you? jeff47 Dec 2013 #71

Because I'm Batman! ryan_cats Dec 2013 #61

How many business contracts have you had to negotiate? ryan_cats Nov 2013 #56

Wow are you wrong. jeff47 Dec 2013 #57

Nice Snark ryan_cats Dec 2013 #59

Again, you come up with an example that is utterly different than this situation. jeff47 Dec 2013 #67

Again, English coursework would help with the comprehension level. ryan_cats Dec 2013 #72

How surprising you avoided the question at the end of that post. jeff47 Dec 2013 #76

Would copying a legitimate document and then altering and passing it off as the original be fraud? ryan_cats Dec 2013 #77

Not if the contract was not signed. jeff47 Dec 2013 #80

Do you enjoy making stuff up, claiming it's fact? closeupready Dec 2013 #73

Perhaps a course in reading comprehension might help understanding your hero. ryan_cats Dec 2013 #60

I'm afraid it's not me who needs that course. jeff47 Dec 2013 #65

Ohhh, such bad manners. ryan_cats Dec 2013 #68

How is sending a counter-offer negotiating in bad faith? jeff47 Dec 2013 #70

I'll type slowly ryan_cats Dec 2013 #78

This is Russia, not the US. jeff47 Dec 2013 #79

I'm not so sure Major Nikon Nov 2013 #39

This isn't fraud. The two parties negotiated. Hosnon Nov 2013 #51

He might have got away with this if the terms he offered were reasonable. former9thward Nov 2013 #11

Maybe, maybe not. That is after all what a trial is for and who knows cstanleytech Nov 2013 #13

Obviously I have not seen the contract. former9thward Nov 2013 #14

When I am writing the contract those terms will be included. Who is to say which is the offer? Vincardog Nov 2013 #15

It probably would be a good question for a contacts final exam. former9thward Nov 2013 #20

My position is that I am making an offer to accept credit from the predatory Financial Vincardog Nov 2013 #44

80-92% of tort law is bluff Major Nikon Nov 2013 #16

100% true. former9thward Nov 2013 #19

only the final version, that both parties signed, matters. unblock Nov 2013 #26

Yes, the signing stuff I'm not sure of. former9thward Nov 2013 #27

It's in Russia. Contract law is going to be different there. jeff47 Nov 2013 #24

29% interest is unfair, and banks get that all day long. grahamhgreen Nov 2013 #31

In a courtroom it would not be unfair. former9thward Nov 2013 #32

At one point there was the first guy - they didn't find that unfair - if a contract is unfair - grahamhgreen Nov 2013 #34

How dare you make sense! ryan_cats Dec 2013 #63

I don't know about Russian banking practices, Jenoch Nov 2013 #21

But for that to be enforced, it would have to be on an executed contract. whopis01 Nov 2013 #22

And if he had signed that contract, that would be relevant. jeff47 Nov 2013 #25

And if he was dealing with a U.S. bank, he would be breaking banking laws Jenoch Nov 2013 #35

No, he would not. Chan790 Nov 2013 #42

Any competent U.S. judge would throw this case out. Jenoch Nov 2013 #46

Exactly what were the terms to be enforced? What contract (or Offer) that he did not sign would you Vincardog Nov 2013 #45

Breaking the law by counter offering? That's the most backwards understanding Hosnon Nov 2013 #52

We did this on a photocopier lease, Sen. Walter Sobchak Nov 2013 #33

Sounds like the ultimate Russian Reversal. nt nyquil_man Nov 2013 #36

LOL. treestar Nov 2013 #43

Talk about Revenge is a dish best served cold. The Banks should of read the "Fine Print" Mrdrboi Nov 2013 #47

Ok, so who here is an expert on Russian contract law? ChisolmTrailDem Nov 2013 #49

Someone upthread who is claiming that in Russia, closeupready Dec 2013 #74

k&r for exposure. n/t Laelth Nov 2013 #53