Changes a Russian man made to a credit card agreement are legit.
Dmitry Agarkov of Voronezh, Russia, scanned a credit card's agreement and amended it to his liking in 2008. This week, a Russian judge said the bank is legally bound to the altered contract.
Unimpressed by a credit card offer from Tinkoff Credit Systems, Agarkov's changes included a zero percent interest rate, no fees and no credit limit. He also stipulated that he would fine the bank 3 million rubles ($91,294) if the bank didn't comply with his terms and 6 million rubles ($182,589) if Tinkoff closed the account. Agarkov submitted the altered contract. Tinkoff certified the document and sent him a card that Agarkov used for four years without incident.
This year, Tinkoff tried to close the card because of late payments. Last year, the bank sued Argakov for 45,000 rubles ($1,363) for fees and charges that were not part of Argakov's amended credit card agreement. However, a judge ruled in Argakov's favor and only ordered him to pay his outstanding balance of 19,000 rubles ($575).
After his success, Argakov is now suing Tinkoff for 24 million rubles ($727,000) for violating the amended credit card agreement. Tinkoff is hitting back, accusing the Russian man of fraud.
The court will hear Argakov's case next month.
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