Consumer complaint received 2024-01-06 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: MO

Complaint narrative:
My Reference Number : XXXX the USD tells me that my application is a promissory note that will be resubmitted for FRNs defined in the American Express Prospectus. Please be advised that I submitted an application for an American Express Platinum credit card with American Express National Bank, Commission File Number : XXXX online on XXXX. As in investor I was denied an extension of my credit as my application is clearly a promissory note in which AmEx is selling on the XXXX. It is violation of the FTC to deny me an extension of my credit especially when I have submitted my application in good faith not being aware or provided any disclosures that my information is being sold and traded on the stock exchange for profit. However, as I am reading your current American Express XXXX annual report on file with the SEC, I see that as an note holder, my applications that I submitted should have been converted into a paper-based securities or certificate of indebtedness. According to your Prospectus dated XX/XX/XXXX, all applications submitted through American Express Financial Corporation and its affiliates are being offered as a part of your Prospectus being sold to investors. This means as a note holder of American Express XXXX XXXX XXXX XXXX XXXX, I provided to your financial institution my personal identifying information in accordance with the Patriot Act under Title 12 in good faith. In exchange, American Express XXXX XXXX XXXX XXXX XXXX is selling and trading my personal information pursuant to the trust agreement as a certificate of indebtedness on the XXXX XXXX XXXX for a period of at minimum 30 years without my permission and/or knowledge and is denying me my right to credit in accordance with the Privacy Act of 1974. It is a violation of Rule 200 under the Securities Exchange Act 17 CFR 200 to deny me an extension of credit as an investor in American Express pursuant to your XX/XX/XXXX annual XXXX filing. Moreover, under Rule XXXX, filed under the Securities and XXXX XXXX XXXX XXXX XXXX, American Express agrees to be ethically bound to not commit language fraud even in the application solicitations as stated in your Form XXXX by not providing proper disclosures to all investors. American Express further agrees that pursuant to the Securities Exchange Act of 1934, to be ethically bound to the language and performance of all of American Express public offerings, filings and commitments made to investors. Further, per your XXXX annual filing, under the ITEM 7. Managements discussion and analysis of financial condition and results of operation ( XXXX XXXX XXXX  ), your credit card and consumer products are at the top of your highest grossing tier of revenue for American Express which means that any investment that includes my application and promissory note is a part of your highest grossing revenue. This would mean that a credit application which is a promissory note that has a CUSIP number is an extremely valuable asset for American Express Investments. I provided American Express my personal identifying information online to American Express Investments which is attached to a promissory note denoting me as investor in the American Express Company according to the THIRD SUPPLEMENTAL INDENTURE BETWEEN AMERICAN EXPRESS COMPANY AND THE NEW YORK XXXX  XXXX XXXX ( Indenture ). The Indenture states that all securities derived from the consumer investor in the debentures are being offered as securities and sold to investors as a part of multi-denomination global securities as defined in Section 2.4 Registered Securities ; Form ; Denominations ; Depositary are converted to floating rate notes and floating rate interest payments that is due and payable to the consumer but instead is generating huge investment capital for American Express and I am entitled to receive the dividend interest that belongs to me that is attached to it as an investor. Most importantly, The Indenture states that American Express Issuance Trust II provides a monetary relationship under Section 13.10 Derivative Counterparty, Supplemental Credit Enhancement Provider and Supplemental Liquidity Provider as Third-Party Beneficiary which means that American Express Financial Bank is choosing to purchase third-party data furnishers as a means of denying consumer credit which is an egregious act of securities fraud and consumer rights violations. In light of the information provided above, any previous accounts that I had with American Express that have been allocated as a credit loss per your XXXX and charged off as a loss with the IRS after receiving unlimited dividend interest as a result of American Express being the beneficiary of any dividend interest of any prior accounts and that being a reason for denying me an extension of credit has already been fiscally accommodated for in the application. Let all documents containing my wet-ink signature in your possession serve as my proof of claim. Any past applications in the form of promissory notes that are still trading under my personal identifying information and any of lines of credit that I have previously held have been securitized and profited from by American Express according to your XXXX filing with those losses being accommodated for through your IRS filings XXXX Therefore, to deny me an extension of credit would be in violation of your Prospectus on file with the SEC, as well as, intentional misstatements and omissions in of your XXXX, and most importantly, an egregious violation of fraud against the Securities and Exchange Act of 1934, as filed in your XXXX, XXXX, Prospectus and Indenture Agreements. If I am continued to be denied the open end investment account offered as open-end credit agreements that is due to me per your Prospectus filed pursuant to Rule 433 dated XX/XX/XXXX, with knowledge that American Express Financial Bank has securitized my applications through its depositor, American Express XXXX XXXX XXXX XXXX XXXX XXXX as well as, all of my previous credit receivables, would constitute securities fraud against me and securities fraud against your investors. This will obligated me to file a complaint as a whistleblower under IRS 3949-A and for securities fraud with FINRA, the SEC and the FTC for failure to adhere to your own capital raising Prospectus filed on the record which could potentially put American Express in a dishonorable status with FINRA, IRS, The Department of Justice and the Securities Exchange Commission XXXX

Company response to consumer: Closed with explanation