Man who created own credit card sues bank for not sticking to terms.

[jeff47]

79. This is Russia, not the US.

Russian banks, shockingly enough, comply with Russian law when issuing credit cards.

In the US, the bank sends you an application, includes the contract in that application. If you sign it, you are agreeing to those terms. The bank doesn't sign anything after you. As a result, altering the contract and then signing it would be fraud - by signing their application you agreed to their terms so you can't change the terms.

In Russia, the credit card offer is a run-of-the-mill contract, not something jammed into an application. Both parties sign the contract, and the bank signs after the consumer. As a result, the terms of the contract can be altered up until both parties sign.

The fact that the bank signed without reading the contract is not fraud on the consumer's part. It's negligence on the bank's part. But it still produces a binding contract.