Consumer complaint received 2024-02-27 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Getting a credit card — Application denied
Company: AMERICAN EXPRESS COMPANY
State: FL

Complaint narrative:
This complaint serves as notice regarding adverse action from AMERICAN EXPRESS with reference number XXXX relating to my application for the Platinum card. On XXXX XXXX, I sent AMERICAN EXPRESS a counteroffer regarding the decline decision for my extension of credit. AMERICAN EXPRESS responded and chose to uphold their decisions based on my XXXX score. 
The denial letter references the Equal credit opportunity act by only stating SOME but not ALL factors regarding discrimination against applicants. The AMERICAN EXPRESS XXXX dated XX/XX/year>, states, The relationship of the consumer and the provider of consumer credit is extensively regulated by federal and state consumer protection laws. and that the most significant federal laws '' include the Equal Credit Opportunity Act. As Per 12 CFR Part 1002 of the Equal Credit Opportunity Act, a creditor shall not discriminate against an applicant on a prohibited basis regarding any aspect of a credit transaction. The general rule covers application procedures, criteria used to evaluate creditworthiness and more. Additionally, the prospectus states, XXXX  scores are based on independent, third-party information, the accuracy of which we can not verify. If the XXXX score can not be verified, then it can not be a deciding factor as it would be inaccurate. AMERICAN EXPRESS is not only violating the terms of their prospectus but is willfully and knowingly misleading their consumers by providing inaccurate information. Since I can not be discriminated against and a XXXX score can not be verified, I demand a proper response regarding the true factors of the denial from treasury XXXX XXXX XXXX or his successor at AMERICAN EXPRESS. 
Per the letter dated XXXX XXXX from XXXX XXXX at AMERICAN EXPRESS, the actions taken on my application were based on VALID REASONS and in accordance with their POLICIES AND PROCEDURES. However, they are not taking the Laws and their prospectus into consideration. The letter also states that they reported this information to the credit bureau agency, in which I did not give consent for them to do so.

In addition, I entered a barter with AMERICAN EXPRESS when I provided an investment and my estate was used as collateral. I am aware that my application was turned into a receivable and guarantees their company payment. This factor alone should be enough to overturn the denial. In the event of AMERICAN EXPRESS deciding to uphold their denial, I requested an authoritative copy of my application but was regrettably informed that they are unable to retract my application, and was not given an explanation. Furthermore, their company is benefiting from my application per the AMERICAN EXPRESS form XXXX dated XXXX XXXX, We periodically securitize Card Member loans and receivables arising from our card businesses through the transfer of those assets to securitization trusts, American Express Credit Account XXXX XXXX ( the Lending Trust ) and American Express XXXX XXXX XXXX XXXX XXXX Charge Trust and together with the Lending Trust , the Trusts ). The Trusts then issue debt securities collateralized by the transferred assets to third- party investors. There is no fair exchange in this relationship and these actions are in violation of the Federal Reserve Act. 
In conclusion, not only did AMERICAN EXPRESS unlawfully deny me the extension of my credit but also illegally shared my personal information without my written consent. AMERICAN EXPRESS is actively benefiting from my security. As a silent investor, I am not receiving consideration or compensation. It is their fiduciary duty to act in good faith. To remedy this matter, I request that my application be overturned and my account to be open-ended with no pre-set spending limit. If these requests can not be granted, I will then revoke any and all power of attorney given to AMERICAN EXPRESS and any and all subsidiaries of AMERICAN EXPRESS and will be forced to report this to the IRS and other proper authorities.

Company response to consumer: Closed with explanation