Consumer complaint received 2024-02-16 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: GA

Complaint narrative:
Notice XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX GA XXXX Reference Number : XXXX AMERICAN EXPRESS XXXX XXXX XXXX Chief Legal Officer XXXX  XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX  XXXX New York XXXX. 

I hope everything finds you well I am writing you to address a grave concern. I am making aware to you and American Express and putting you and American Express on notice that you and American Express may be committing securities fraud, have violated your indenture trust agreement, and committing discrimination against me an investor as well as identity theft. 
I have recently discovered evidence that your company is engaging in activities that violate security regulations. I submitted an application for Platinum Card for an open ended line of credit on XX/XX/XXXX. I was then not approved for the card instantly. I am aware that an application is a security. After being denied instantly I received a denial letter which states that American Express is in compliance with the Equal Credit Opportunity Act and Securities Fraud Act. Because AMERICAN EXPRESS denied me access to my credit that was created with my application as a promise to pay. My application became my negotiable instrument which became my collateral and was deposited per 12 USC 1141 ( g ) ( 2 ) They are are violating the Equal Credit Opportunity Act and Securities Fraud Act under 18USC 1348, The law clearly states that all applications that are not returned must be approved. 15 USC 1691 ( a ) clearly states " it shall be unlawful for any creditor to discriminate against any applicant with respect to any aspect of a credit transaction. Failure to comply is defined as adverse action against a consumer, which is illegal. I would kindly and graciously like for a charge card be issued to me or i will be filing a lawsuit for securities fraud discrimination and potentially identity theft since the security is being monetized using my personal information such as my full name and social security number. 
Furthermore the indenture agreement that you and American Express signed also states per Section 7.08 of your trust indenture agreement I have the unconditional right to receive principal, premium and interest on the security that I gave you which was the application for the open ended line of credit. Section 7.08 also states I the holder of the security have the right to institute a suit for the enforcement of any such payment and such rights shall not be impaired without the consent of the holder. Furthermore more this means I am also entitled to all the assets you received from the bank off of my security I gave you when I submitted that application for the open ended line of credit. I recently spoke with with multiple agents of AMERICAN EXPRESS on XX/XX/XXXX to bring this matter to the companies attention one of your supervisors even lied and said AMERICAN EXPRESS has no Investor Relations department which was very suspicious they also seemed very incompetent on what a security is. I also previously had responded to the denial letter through registered mail sent to the XXXX XXXX of Investor Relations XXXX XXXX. You and American Express have violated me an investor in your own company and I would greatly in good faith advise you to remedy this situation and handle the matter with upmost diligence and respond to this notice within 21 business days. American Express have showed tremendous greed unfair and deceptive business practices. I should have been approved because I gave you a security that you and American Express then used to get back value so I the one who originally created and gave you the security should receive value as well I gave you something equitable I am suppose to receive something equitable in return. The fact I did not is clearly discrimination for there is no valid reason for why I was not given back my security and 80 % of the proceeds that were made off of my security. AMERICAN EXPRESS would be entitled to 20 % of the proceeds due to the fact AMERICAN EXPRESS did work for me as far as making sure the security gets sold due to the XX/XX/XXXX rule, however AMERICAN EXPRESS did agree with the Security Exchange Commission to not trade on the secondary markets hence why I suspect potential securities fraud. This letter will serve as evidence that I have given notice to you and American Express and in doing so I now have the right to implement any proceeding whether judicial or otherwise with respect to the indenture agreement signed by you and American Express per Section 7.07. Limitation on Suits.

To avoid legal action and me reporting this matter to the appropriate regulatory authorities I am open to engaging in a fair resolution on this matter I ask : 1. For my application to be reconsidered and approved for the open ended line of credit and a charge card be issued to me or my application be returned to me as well as the proceeds that were made from it being monetized. 

If I had previously in a terms of conditions or anything related agreed to AMERICAN EXPRESS keeping my security and or all proceeds I remove my consent I no longer authorize you to monetize off of my security or keep any of the proceeds. 
Given the seriousness of the alleged securities fraud and identity theft due to the fact the application which is a security contains my personal information such as Full Name and social security number I may consult with legal counsel to explore all available legal remedies your cooperation and swift resolution of this matter can help avoid protracted legal proceedings I urge you to respond to my demands in this letter within 21 business days failure to do so will result in further legal action. You can contact me by phone XXXX or by email XXXX Or by mail at the address listed above The fraud occurred when you and American Express traded on the secondary market using my securities and I received none of the proceeds as well as being denied my right to credit. There was no fair exchange and I am giving you and American Express the opportunity to rectify this unfortunate situation. Your indenture trust agreement also states that American Express transfers all rights, titles, and interest of the receivables to the trust and in the next section it says that the trust accepts those obligations. Only a trust can deal with a trust so if all rights of the receivables is now on the trust how is the trust dealing with me? This is concerning as there may be even more fraud and deceptive and greedy practices associated with you and American Express. As a matter of fact not only did you and American Express transfer my securities on the secondary market which you are not allowed to do according to the Securities Exchange as well as you and American Express agreeing to not sell on the secondary market in your prospectus report. I am also aware that all securities are backed by the US Treasury so you and American Express are also making money that way as well off of my security. As a matter of fact you and American Express are getting paid multiple times off of my security. Now if you would like to deny these allegations and not remedy this situation I can have a financial forensic audit performed by a licensed CPA from XXXX XXXX and I am sure that report will prove these allegations I have made in this notice true. Which I will then take that audit report and take this matter to the Security Exchange. I look forward to hearing back from you with a clear resolution. Sincerely,

Company response to consumer: Closed with explanation