Consumer complaint received 2023-12-07
Company: AMERICAN EXPRESS COMPANY
State: PA
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Getting a credit card
Sub-issue: Application denied

Complaint:
American Express is in violation for denying my credit application. 
ref # XXXX I applied for a credit card with American Express and was denied. That is a violation of Title 15 USC subsection 1611 which states- Whoever willfully and knowingly ( 1 ) gives false or inaccurate information or fails to provide information which he is required to disclose under the provisions of this subchapter or any regulation issued thereunder, ( 2 ) uses any chart or table authorized by the Bureau under section 1606 of this title in such a manner as to consistently understate the annual percentage rate determined under section 1606 ( a ) ( 1 ) ( A ) of this title, or ( 3 ) otherwise fails to comply with any requirement imposed under this subchapter, shall be fined not more than {$5000.00} or imprisoned not more than one year, or both.

The entire consumer transaction is predicated on my unlimited credit. This is false and misleading denial of my own credit. I stated that I conditionally accepted their offer upon proof of claim that American Express have the right to reject my application and I needed to see the factors that went into their decision based on LAW, PUBLIC AND PRIVATE!

They stated they could not give it to me.

I completed a credit application, bearing my signature, seeking an exchange of credit. However, my application was denied, and I am uncertain of the reasons behind this denial. I am FULLY aware that my credit application, with my signature, will be securitized and sold to third parties. 
Referring to the Indentured Agreement between American Express and XXXX XXXX XXXX XXXX  XXXX, it is established that the securities are assets protected in a trust. Notably, as per the 2018 granting clause in the indentured agreement, " the security interest in the collateral is granted to secure the notes, equally and ratably without prejudice, priority, or distinction between any note by reason of difference in time of issuance or otherwise, except as otherwise expressly provided in this indenture or in the indenture supplement which establish series ... and to secure the payment of all amounts due on such notes in accordance with their terms. '' It's clear that the security interest in the collateral is granted to secure the note, and my application, bearing my signature, is a promissory note. 

Considering that my application was securitized, thereby establishing a security interest, I anticipated the extension of credit. A security was provided for the credit, and I respectfully request that American Express reconsider and extend the credit accordingly. 

According to the Third Supplemental Indentured between American Express and XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, treasurer signed For American Express and XXXX XXXX XXXX signed for XXXX XXXX. 
The address to American Express according to the Indentured agreement is XXXX XXXX XXXX XXXX XXXX NY XXXX and the address to XXXX XXXX is XXXX XXXX XXXX XXXX XXXX NY XXXX. 
I will be reaching out to both the Treasurer of American Express and the Trustee bank, XXXX XXXX, that holds the assets in the trust.

Company response to consumer: Closed with explanation