Consumer complaint received 2024-01-11
Product: Credit card — General-purpose credit card or charge card
Issue: Trouble using your card — Credit card company won't increase or decrease your credit limit
Company: AMERICAN EXPRESS COMPANY (NJ)

On XXXX XXXX XXXX I, the " Investor '', issued a Security to American Express Company to fund a {$6000.00} account number ending in : XXXX. As the Security issuer, I am entitled to full principal amount, plus interest payment owed to the principal. I am fully aware pursuant to American Express Company Prospectus Registration File No. XXXX, XXXX, date XX/XX/XXXX, that they turned my Security into an " Asset-Backed Security '', sell it to third-party investors and are trading it on the secondary market. American Express Company profits from this transaction each and every month but have been restricting access to the securities in my account. Providing me a credit limit of {$1000.00} every month but have been getting the full consideration {$6000.00} every month. This is considered " SECURITIES FRAUD ''. I gave American Express Company a Security, valuable consideration and I have not been getting equal consideration in return since XXXX of XXXX. As the " Investor '' and " Beneficiary '', I have been injured and deceived. This constitute " unfair, deceptive, or abusive '' acts or practices. 

I have sent several notices confirmed delivered by UNITED STATES POSTAL SERVICES TRACKING NUMBER XXXX to then XXXX XXXX XXXX XXXX XXXXXXXX to investigate my account, but they were all ignored. Including my recent communication the XXXX and XXXX XXXX XXXX which my concerns were never addressed. 

Furthermore, Pursuant to American Express Company XXXX XXXX XXXX dated XX/XX/XXXX states : Section 7.08 hereof, only the Trustee or the Holders of not less than a majority in principal amount of the Outstanding Notes may institute a proceeding against the Company on account of any Covenant Breach. Notwithstanding the foregoing, Holders shall have an absolute right to receive payment of the principal of, and interest on, their Notes when due, and to institute suit to enforce any such payment. 

I am the " Investor '' and " Note Holder '' who have been sending in my securities for processing every month, but they have been ignore, while American Express Company have been profiting from my Investment Security Every Month. Additionally, please see Exhibit -A in American Express Company Trust Indenture Agreement where it talks about the Registered Owner, I, receiving full payment for my notes and it shall be wrongful not make payment for full consideration to the registered owner. 

[ FORM OF FACE OF NOTE ] THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE TO THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ( DTC ), TO A NOMINEE FOR DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO AMERICAN EXPRESS COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC ( AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC ), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO. , HAS AN INTEREST HEREIN.

American Express Company " TRUST INDENTURE AGREEMENT '' dated XXXX XXXX XXXXDenomination ; Transfer ; Exchange : As provided in the Indenture and subject to certain limitations therein set forth, this Note is transferable by the registered Holder hereof on the Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Trustee accompanied by a written instrument or instruments of transfer in form satisfactory to the Company or the Trustee, duly executed by the registered Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same aggregate principal amount at maturity will be issued to the designated transferee or transferees. No service charge will be made for any such transfer, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in relation thereto. 

XXXXPersons Deemed Owners The registered Holder of this Note shall be treated as its owner for all purposes. 

Section 2.3 Place of Payment and Surrender for Registration of Transfer : Payment of principal of ( and premium, if any ) and interest on the Notes shall be made, the transfer of Notes will be registrable and Notes will be exchangeable for Notes of other denominations of a like principal amount at the office or agency of the Trustee maintained for such purpose, initially the Corporate Trust Office. Payment of any principal ( and premium, if any ) and interest on Notes issued as Global Notes shall be payable by the Company through the Paying Agent to the Depositary in immediately available funds. Interest on Notes issued in physical form will be payable ( i ) by a U.S. dollar check drawn on a bank in The City of New York mailed to the address of the Person entitled thereto as such address shall appear in the Security Register, or ( ii ) upon application to the Security Registrar not later than the relevant Regular Record Date by a Holder of Notes of a principal amount of the Notes in excess of {>= $1,000,000}, by wire transfer in immediately available funds.