Product: Credit card

Ref : XXXX Applied for American Express XXXX XXXX today, XX/XX/XXXX. Application was declined based on a credit score obtained from XX/XX/XXXX, a score of XXXX application was not supposed to be denied as my credit score is not currently a XXXX it is XXXX which also reflects within the American Express app. 

Amex is basing their decision on old credit information, which also includes fraudulent information and accounts, and does not accurately represent my current financial situation. Which is a disservice to any new and prospective clients/members American Express is barring me from obtaining credit by basing their decision on an old score and saying its not updated within their system when a soft pole was performed twice by them on XX/XX/XXXX in XX/XX/XXXX both of which reflected XXXX. 

This is my second attempt as a card holder having to deal with this issue as I was previously told I would need to wait 30 days for the score to update. However, as of today XX/XX/XXXX it has not updated and I am forced to submit the application for reconsideration or manual review. As an AMEX XXXX and XXXX XXXX XXXX card holder this card has allowed me to purchase the things I need for my business however, now Im being barred from doing that as I have a large purchase coming up and wanted to use XXXX benefits, but I am not being allowed to do so. Simply because Amex is using old credit information, which also includes fraudulent information and accounts, and does not accurately represent my current financial situation. 

Creditors have an obligation to use up to date and accurate information according to FCRA laws and as of today XX/XX/XXXX American Express new accounts is not doing that. ( In the U.S., creditors are generally prohibited from using outdated or inaccurate information to make decisions about credit card applications. This is primarily governed by the **Fair Credit Reporting Act ( FCRA ) ** and **Regulation B**, which implements the **Equal Credit Opportunity Act ( ECOA ) **. Here are some key points : 1. **Fair and Accurate Reporting** : Creditors must base their decisions on accurate and up-to-date credit information. If a credit report contains outdated or incorrect information, the creditor may be required to disregard it. The FCRA mandates that credit reporting agencies must ensure the accuracy of the information they provide. 

2. **Use of Outdated Information** : Creditors can use information that is reported to them, but they are responsible for ensuring that the data they are using is accurate. If they rely on outdated information, this could lead to a violation of the FCRA or result in an unfair or discriminatory decision under ECOA. 

3. **Time Limits** : Credit reporting agencies generally only report certain negative items for a limited timetypically, bankruptcies for 7 to 10 years and late payments for up to 7 years. Creditors can not legally use information that is older than the time frames allowed under the law. 

4. **Credit Scoring Models** : Creditors often use automated credit scoring models ( such as XXXX or XXXX ) to assess applicants, and these models rely on accurate, up-to-date data. Using outdated or inaccurate data in such models can result in incorrect decisions, potentially leading to a violation of laws governing fair credit. 

If a creditor uses outdated or incorrect information and denies an application based on it, the applicant may have grounds to dispute the decision, especially if they can demonstrate the information used was outdated or incorrect. If you suspect this has happened, you can contact the creditor, dispute the information, or file a complaint with the Consumer Financial Protection Bureau ( CFPB ). )