Consumer complaint received 2024-06-26
Product: Credit card — Store credit card
Issue: Getting a credit card — Application denied
Company: JPMORGAN CHASE & CO. (TN)

On XX/XX/year> I emailed to XXXX the follow letter of reconsideration Iam writing XXXX formally request reconsideration of my application for the Amazon Prime Visa Signature Account, reference number XXXX, which was denied. This request is submitted pursuant to 15 U.S. Code 1691 and 12 CFR 1002, which govern the Equal Credit Opportunity Act ( ECOA ) and prohibit discrimination in credit transactions. Iam wanting to formally dispute the decision outlined in your letter dated XX/XX/year>, concerning the application for the Amazon Prime Visa Signature Account submitted by XXXX XXXX. I am the creditor in this transaction and have secured the application with appropriate collateral security. Therefore, Icannot be legally denied credit due to any adverse actions in consumer credit transactions, as specified under 15 USC 1691 ( the Equal Credit Opportunity Act ) and 12 CFR 1002 ( Regulation B ).

As the creditor and secured party in this transaction, it is imperative to address that my application can not be denied based on adverse actions related to my credit score, credit history, or income. The ECOA explicitly prohibits such denials when they result in discrimination. Furthermore, by obtaining my security in the application process, Ihold the status of a secured creditor in this transaction. Consequently, any denial based on the aforementioned criteria would be contrary to the provisions set forth under 15 USC 1691 and 12 CFR 1002.

It has come to my attention that the denial of credit in this instance may have been based on factors such as credit score, credit history, or income. As Ihave secured this transaction and am the secured creditor, these factors should not disqualify the application. I respectfully request a reconsideration of the decision based on the following points : .1 Secured Creditor Status : I am the secured creditor in this transaction, having provided secured collateral to support the application. As such, my creditworthiness should not be assessed based on traditional metrics such as credit score or income. 
2.

Compliance with 15 USC 1691 : Under the Equal Credit Opportunity Act, it is illegal to discriminate against any applicant in a credit transaction on the basis of race, color, religion, national origin, sex, marital status, age, or because all or part of the applicant 's income derives from any public assistance program. This also includes consideration of credit score, credit history, or income when collateral has been provided to secure the transaction.

3.

Regulation B ( 12 CFR 1002 ) : According to Regulation B, creditors must provide applicants with specific reasons for denial of credit. The reason provided in your letter does not take into account my status as the secured creditor, which fundamentally alters the risk profile of this transaction.

To reiterate, I-should not be subjected to any denial of credit based on adverse actions in consumer credit transactions as these actions are illegal under federal law. Iexpect that the reconsideration process will take into account my position as a secured creditor and adhere to the legal requirements to provide fair and nondiscriminatory consideration of my application. 
Given these points, Irequest a thorough review and reconsideration of the application. Please provide a detailed response addressing my status as the secured creditor and the specific reasons for the initial denial in light of the provided collateral.

Irequest that you review my application again with this information in mind and approve the issuance of the Amazon Prime Visa Signature Account. If additional documentation or information is required to facilitate this reconsideration, please inform me at your earliest convenience.