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  1. #1
    Senior Member Mal12345's Avatar
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    Default How to Get Revenge On Credit Card Companies

    http://now.msn.com/dmitry-agarkov-ou...dit-card-terms

    The idea of beating the banks at their own game may seem like a rich joke, but Dmitry Agarkov, a 42-year-old Russian man, may have managed it. Unhappy with the terms of an unsolicited credit card offer he received from online bank Tinkoff Credit Systems, Agarkov scanned the document, wrote in his own terms and sent it through. The bank approved the contract without reading the amended fine print, unwittingly agreeing to a 0 percent interest rate, unlimited credit and no fees, as well as a stipulation that the bank pay steep fines for changing or canceling the contract.
    Agarkov used the card for two years, but the bank ultimately canceled it and sued Agarkov for $1,363. The bank said he owed them charges, interest and late-payment fees. A court ruled that, because of the no-fee, no-interest stipulation Agarkov had written in, he owed only his unpaid $575 balance. Now Agarkov is suing the bank for $727,000 for not honoring the contract's terms, and the bank is hollering fraud. "They signed the documents without looking. They said what usually their borrowers say in court: 'We have not read it,'” Agarkov's lawyer said. The shoe's on the other foot now, eh?
    "Everyone has a plan till they get punched in the mouth." Mike Tyson
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  2. #2
    Senior Member Tiltyred's Avatar
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    Yesssss!

  3. #3

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    Ha! That's funny, I bet some of the front line employees in that credit card company get shit canned for that, bets that none of the board room or shareholders feel any pain.

    I think that sort of credit arrangement is what's behind some of the ideas referred to as "islamic" banking or economics, they consider the charging of interest or late fees as usury which is prohibited by their scriptures, it should be prohibited for Christians and Jews aswell but you know...

  4. #4

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    Ha! That's funny, I bet some of the front line employees in that credit card company get shit canned for that, bets that none of the board room or shareholders feel any pain.

    I think that sort of credit arrangement is what's behind some of the ideas referred to as "islamic" banking or economics, they consider the charging of interest or late fees as usury which is prohibited by their scriptures, it should be prohibited for Christians and Jews aswell but you know...

  5. #5
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    The bank still don't have any loss because they are using the money of people that they deposit in the bank.They only have loss when they have have to pay the amount to its depositor after the insolvency.

  6. #6
    ndovjtjcaqidthi
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    Good for him.

  7. #7
    Administrator highlander's Avatar
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    I love this.

    If it's true.

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    Tri-type 639

  8. #8
    You have a choice! 21%'s Avatar
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    My take on the credit card problem is that it's the parents' fault for not teaching good money habits to their kids. Of course the world is trying to scam you. You'd better teach your kids how things work and how to use money wisely...

    Sorry if that is completely irrelevant
    4w5 sp/sx EII

  9. #9
    Emperor/Dictator kyuuei's Avatar
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    Quote Originally Posted by 21% View Post
    My take on the credit card problem is that it's the parents' fault for not teaching good money habits to their kids. Of course the world is trying to scam you. You'd better teach your kids how things work and how to use money wisely...

    Sorry if that is completely irrelevant
    Credit is deeper than that though, it penetrates aspects of your life that you genuinely need it for--like buying and renting homes, cars, and emergency care cards. I have 3 credit cards now, that I was forced to open and have to use regularly to show that I have lines of credit so that I'll be trusted for things like buying my car. Sign up for the wrong card, and you'll pay annual fees, sharp fines for any discrepancy, and other dastardly things.

    I'm with Lark, some lower management dude probably got canned, but honestly I really don't care. They should have read the fine print and laughed it off over coffee. Instead they do what most people do, streamline the process and prioritize things in their life that don't involve going over percentage rates of abstract concepts that have not occurred yet, and get on with it. I say good on that guy, but I've frequently found opening people's eyes to a glaringly obvious problem doesn't solve it.
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  10. #10
    You have a choice! 21%'s Avatar
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    Quote Originally Posted by kyuuei View Post
    Credit is deeper than that though, it penetrates aspects of your life that you genuinely need it for--like buying and renting homes, cars, and emergency care cards. I have 3 credit cards now, that I was forced to open and have to use regularly to show that I have lines of credit so that I'll be trusted for things like buying my car. Sign up for the wrong card, and you'll pay annual fees, sharp fines for any discrepancy, and other dastardly things.
    I think credit is bigger in America than it is elsewhere, but I'm not well-versed on the issue so I might not know what I'm talking about. What my parents taught me was: never spend what you don't have. They taught me to start saving at the age of 6 by suggesting I put at least half my allowance in the bank every month. Now I always make sure that everything I've bought 'on credit' I can pay off in cash immediately if I need to. Not sure if this is being too safe or not, but it works for me as my sp instinct will go nuts if I ever have to borrow money
    4w5 sp/sx EII

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