Consumer complaint received 2025-03-26 00:00:00
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
State: NJ

Complaint narrative:
Attention : American Express XXXX XXXX XXXX XXXX XXXX XXXX : Formal Complaint Denial of XXXX XXXX XXXX, Inaccurate Reporting, and XXXX XXXX American Express XXXX XXXX : I am writing as an account holder of the American Express XXXX XXXX Credit Card to formally raise serious concerns regarding your recent denial of my credit line increase request, your inaccurate credit reporting practices, and your undisclosed financial dealings that amount to unjust enrichment and potential securities fraud. 

XXXX. Unjust Denial of Credit Line Increase Based on Misleading XXXX Criteria Despite being a responsible cardholder, I was issued an unreasonably low {$1000.00} credit limit. More troubling is that my recent request for a credit line increase was denied, purportedly based on XXXX criteria that are arbitrary and fail to accurately reflect my financial behavior or overall creditworthiness. This denial appears to be based on outdated or incorrect scoring methodologies and fails to consider the broader financial context or positive payment history I maintain. 

XXXX. False and XXXX XXXX XXXX American Express has been reporting inaccurate account balances and payment history to the credit reporting agencies, negatively impacting my credit profile. These inaccuracies not only violate the Fair Credit Reporting Act but also represent bad faith in the administration of your obligations as a " lender ''. 

XXXX. Undisclosed Securitization and XXXX XXXX XXXX XXXX XXXX review of your recent filing with the XXXX Securities and Exchange Commission ( SEC ), specifically the Form XXXX dated XX/XX/year>, I discovered that American Express XXXX XXXX XXXX XXXX XXXX XXXX American Express National Bank XXXX and American Express XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX underwriting agreements to issue {$1.00} XXXX in Asset-Backed Certificates ( Series XXXX and XXXX ), based on receivables derived from consumer credit card accounts held by cardholders like myself. 

This document reveals that : Each Certificate will represent an undivided interest in certain assets of the American Express XXXX Account XXXX XXXX. The property of the XXXX will include, among other things, receivables generated ... from designated consumer American Express credit card accounts. 

It is clear that American Express has bundled my receivables ( i.e., debt obligations ) as collateral to create securities for sale to investorswithout my knowledge or consent. You have effectively monetized my private financial data and obligations for your own profit. This behavior not only undermines the fiduciary relationship between you and your customers, but it also constitutes unjust enrichment and exploitation of my intellectual property. 

XXXX. Violation of Federal Law Identity Theft and Securities Fraud By utilizing my personal credit activity and financial profile as the underlying asset for securitization, without providing compensation or disclosure, American Express has exploited my identity and private data for gain. This XXXX rise to the level of : Identity theft under applicable state and federal statutes XXXX fraud through material omissions and misrepresentation of the nature of receivables sold to investors Violations of consumer protection laws enforced by the FTC, SEC, and XXXX XXXX. Demand for Remediation Given the seriousness of these actions, I demand that American Express take the following corrective actions immediately : Offset and Setoff all falsely reported balances, including any erroneous late payments reported to the credit bureaus. 
Immediately increase my credit limit to {$50000.00} in recognition of the underlying financial activity that is being securitized and monetized for profit. 
Provide financial compensation for the use of my credit profile in the creation of asset-backed securities. 
Correct all negative or inaccurate reporting currently listed on my credit reports with XXXX, XXXX, and XXXX, and any other consumer reporting agency alike. 
XXXX. XXXX XXXX XXXX XXXX XXXX XXXX American Express fail to address and fully resolve these issues within XXXX ( XXXX ) days, I will not hesitate to escalate this matter by filing formal complaints with : The XXXX Securities and Exchange Commission ( SEC ) The Federal Trade Commission ( FTC ) The Department of Justice XXXX XXXX XXXX XXXX XXXX of the Comptroller of the Currency ( XXXX ) The Consumer Financial Protection Bureau ( CFPB ) The XXXX XXXX XXXX XXXX ( FDIC ) XXXX and XXXX Attorney XXXX XXXX And a civil complaint in XXXX XXXX XXXX This complaint will include allegations of fraud, unjust enrichment, identity theft, securities violations, and consumer rights violations. 

I expect a prompt written response confirming your receipt of this complaint and outlining your intended course of action.

Company response to consumer: Closed with explanation