Consumer complaint received 2023-06-02
Company: AMERICAN EXPRESS COMPANY
State: NC
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Getting a credit card
Sub-issue: Application denied

Complaint:
OFFER REJECTION NOTICE SEE AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST SEC FILING : XXXX, XXXX FILED PURSUANT TO RULE 424 ( B ) ( 5 ) .ATTN : American Express RE XXXX XXXX XXXX XXXX XXXX XXXX XXXX, UT XXXX XXXXThis correspondence is in regard to the received online rejection notice. As the notice recently received appears to be from American Express, the word we is referenced several times throughout the document as if multiple individuals or person ( XXXX ) are involved in the creation of this computer- generated notice. Since the document includes no signature ( XXXX ), would all individuals in their private capacities who are involved in said writing please identify themselves, so that I can properly address such individuals. American Express National Bank is claiming to be the creditor for the credit application submitted. There seems to be an error as that would be in contradiction of 12 CFR 1002.2 ( I ), which defines a creditor as... the term does not include a person whose only participation in a credit transaction involves honoring a credit card. 12 CFR 1002.2 ( k ) defines a credit card as meaning any card, plate, coupon book, or other single credit device that may be used from time to time to obtain money, property, or services on credit. The credit card that was to be honored in said transaction is the Social Security Card, specifically the account numbers placed on the electronic credit application. If there is any presumption that the said Social Security Card/ Account is not used to obtain money, property, or services on credit see 26 CFR 301.7701-11 as security is defines within the meaning of this regulation in reference to the social security number as ... or warrant or right to subscribe to or purchase, any of the foregoing ; negotiable instrument ; or money. - ( Source : 26 CFR 301.6323 ( h ) -1 ) .In regard to the credit application American Express National Bank ( Central Index Key Number:XXXX  ) would be a Sponsor - ( 12 CFR 43.2 ), which is referenced with the SEC filing the duties of a sponsor are organizing and initiating a securitization transaction by selling or transferring assets, either direct or indirectly, including through an affiliate, to the issuing entity. As a natural person within my own right ( 31 CFR 306.11 ), the placing of the credit card number meaning the social security account/ number on said credit application in addition to consenting to the purchase of the consumer credit report associated with said social security account, is intended to be used as an asset to be transferred to the issuing Entity listed in abovereferenced SEC XXXX as American Express XXXX Account XXXX XXXX XXXX XXXX XXXX Key Number : XXXX ). The primary asset of the issuing entity are receivables generated in a portfolio of designated consumer revolving credit accounts or features and, in the future, XXXX include other charge or credit account or features or products.The term application does not include the use of an account or line of credit to obtain an amount of credit that is within a previously established credit limit. The established credit limit with said Social Security XXXX is open-end.As American Express National Bank XXXX XXXX of its affiliates and subsidiaries are in any capacity to claim ownership of the financial assets of the natural person to be pooled, securitized, and invested. As any deposit to any bank is intended to be in the nature of bailment. As the creditor, XXXX, and XXXX to any and all financial assets is XXXX XXXX XXXX in her private capacity.This will also serve as notice of breach of fiduciary duty ( XXXX. XXXX ) .Following this notice if said financial assets are not either returned to the referenced Creditor/ Bailor/ Beneficiary via mail XXXX XXXX ( XXXX ) business days or accepted for it intended purpose within XXXX ( XXXX ) business days of the receipt of this notice, an SEC complaint will be filed XXXX to XXXX XXXX XXXX and XXXX XXXX XXXX. As well as an IRS complaint for abusive tax schemes involving the SEC filed trust arrangement.

Company response to consumer: Closed with explanation