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Man Rewrites Credit Card Agreement, Then Sues Bank for Breaking Contract

A man in Russia who was fed up with receiving offers for a credit card from the country’s top online bank, appears to have successfully played the lender at its own game.

Rather than ignoring the offers, Dmitry Agarkov (pictured) scanned the credit card agreement into his computer and rewrote the contract terms, giving himself an unlimited line of credit, no bank charges and a 0 per cent interest rate.

According to Agarkov’s terms, lenders Tinkoff Credit Systems would have to pay him £58,000 if they altered the agreement in any way or £116,000 to cancel the entire contract.

Agarkov sent his version of the document back to the bank who failed to read the small print, signed the agreement and posted him a card with a credit limit large enough for him to ‘purchase a small island’.

It took Tinkoff Credit Systems two years to discover their mistake after unsuccessfully trying to collect £870 in bank charges.

Agarkov refused to pay, took the lender to court for breaking the terms of the agreement, and won. Earlier this month, a judge ruled that he was only liable for the account’s remaining balance of around £370.

However, Agarkov hopes to take the matter further and is preparing to sue the lender in September for £460,000 for failing to honour the terms of the agreement.

Oleg Tinkov, founder of Tinkoff Credit Systems, remains unimpressed. He said last week: ‘Our lawyers think [Agarkov] is not going to get [£460,000], but four years in prison for fraud.

‘Now it’s a matter of principle. We don’t have small print, everything is clear and transparent. Try to open a card – then we’ll talk. Stealing is a sin. Not all in Russia think so.’

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Tags Dmitry Agarkov, Credit Card, Contract, Tinkoff Credit Systems, lenders, agreement, bank charges, sue, Oleg Tinkov
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