Consumer complaint received 2024-02-21 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: DC

Complaint narrative:
To Whom It May Concern, Below is a Notice re : Inactive Noteholder I applied to American Express for a Platinum Card. Per their Issuance Trust, Senior Trusts, Supplementals as Securities Intermediary to me the Entitlement. I gave consideration to the solicitation, but I was given no benefit or performance. 

The complaint is based upon the following and subsequently due to lack of quality assurance while on various calls with American Express Company. The lack of professionalism and lack of accommodation was overt. As an educated consumer/Entitlement Holder I was requesting information from them by which to better secure finance and was disregarded several times upon multiple calls. I wish the matter resolved as the remedy regarding the initial issue is disclosed in the following. 

As Entitlement Holder per the accredited references sited in the following Breach of Covenant says that I am entitled to performance and benefit as I gave consideration. 

BREACH OF COVENANT Notice re : Inactive Noteholder Per the American Express XXXX XXXX TO : American Express XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Delaware XXXX XXXX : Corporate Trust Administration Fax : ( XXXX ) XXXX XXXX As the Entitlement Holder and consumer safeguarded by federal regulations, I believe and/or there seems to be misleading communication and inaccurate representation. 

This Entitlement Holder applied for the American ExpXXXX No Preset Limit Spending Charge Card ( hereinafter, the Platinum Card ) where reference number : XXXX USD was generated. As Entitlement Holder and per the references as cited here within, I require immediate remedy in this matter. There was consideration given with no benefit given to the Entitlement Holder. I attempted to vendor this debt investment security on XXXX XX/XX/XXXX and received no benefit or performance on the matter by American Express Company/ American Express National Bank ( AEC & AENB et al., hereinafter ). I accepted an online solicitation created by AEC & AENB et al. via an application ( purchase money loan ). 

I seek fiduciary intervention and remedy to this matter as there seems to be a misrepresentation of entities. This unfortunate course of recent events is causing this consumer significant financial, harm, danger, and loss even as I entrusted AEC/AENB with my note. This note was entrusted in good faith. 

As Entitlement Holder, I summon resolve to this matter. Reconsideration is sought per the remedies outlined in the American Express Senior Indenture, Issuance Trust II, and Third Indenture regarding me as note holder and entitlement holder. American Express has a fiduciary duty to the note holder/entitlement holder as the Security Intermediary XXXX 

I am the Entitlement Holder. American Express National Bank is the Securities Intermediary per the Senior Indenture ( XXXX XX/XX/XXXX ), The Third Supplemental Indenture ( XXXX XX/XX/XXXX ), and the American Express Issuance Trust II ( 1 April 2018 ) in accordance with the Uniform Commercial Code ( UCC ). The following describes the express fiduciary duties and responsibilities of American Express National Bank as regarding myself, the Entitlement Holder. 

It seems that the application security was accepted per the indentures and the prospectus- to be endorsed and then to be pledged or sold at cash value per the indenture. The proceeds are to be held in trust, held by AENB for the benefit of the Issuer. The application or instrument was accepted as an asset in exchange for AENBs promise to perform which is carried on its books as a credit/deposit and deposited in the depositors favor in the amount of the instrument. A debt is monetized when the debt is accepted as an asset ; per the American Express Prospectus form, American Express Company Form 10-K ( all fiscal years to date ), American Express Account Master Trust , the Amended and Restated Pooling & Servicing Agreement , American Express Issuance Trust II as Issuer and banker of New York XXXX XXXX XXXX Trustee and Securities Intermediary XXXX the Federal Reserve Consumer Financial Protection Bureau , Security Exchange Commission , Trust Indenture Act, the Securities Exchange Act, the Office of the Comptroller , the IRS and all other applicable governing agencies, laws, codes, acts, generally accepted accounting principles and regulations attached. 


Specifically, per the American Express Senior Indenture/Act of Holders ( XXXX XX/XX/XXXX ) cites : ( d ) Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Security shall bind the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done or suffered to be done by the Trustee or the Company or any agent of the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security.

Per the Third Supplemental Indenture between American Express Company and the Bank XXXXXXXX XXXX XXXX XXXX XXXX XX/XX/XXXX cites : WHEREAS, the Company executed and delivered the Base Indenture to provide for the issuance from time to time of its notes, debentures, bonds or other evidences of indebtedness ( hereinafter generally called the SECURITIES, and individually, a SECURITY ) to be issued in one or more series as may be determined by the Company under the Base Indenture from time to time, in an unlimited aggregate principal amount which may be authenticated and delivered as provided in the Base Indenture [. ] Also, whereas as cited on pages 12 and 13 of same Supplemental Indenture : Section 2.8 Covenant Defaults Section 7.07 of the Base Indenture is hereby amended and replaced in its entirety with respect to the Notes with the following text : SENIOR INDEBTEDNESS means the principal of and interest on : all indebtedness of the Company, whether outstanding on the Issue Date or thereafter created, incurred or assumed, which is for money borrowed or which is evidenced by a note, bond, indenture or similar instrument. 
Particularly, the American Express Company and the Bank XXXXXXXX XXXX XXXX XXXX XXXX XXXX Section 11.06 Conformity with the Trust Indenture Act - Every supplemental indenture executed pursuant to this article shall conform to the requirements of the Trust Indenture Act, as has been in effect. 
Likewise, the definition of the underwriter in the XXXX XXXX XXXX of XXXX. Section XXXX. 
And in view of the underwriter, please explain to this Entitlement Holder how a mere artifice ; an algorithm ; an artificial intelligence device is adequate or qualified or is deemed to have any relevance in determining the risk it assumes in this private consumer transaction. Please explain how this device was capable of rendering valuable consideration if the clear definition and function of an underwriter is to assume the risk and purchase the securities. 
Furthermore, this Entitlement Holder would like the determining factors, i.e., definition, description, example, etc. cited regarding the creditworthiness for this private consumer credit transaction. 

As the Entitlement Holder, I can not be denied due to discriminatory means such as income or rating due to the above definition. Is it not factual that the credit score is a rating by which the underwriter decides discounts on the note/security at the Federal Reserve window ?

American Express National Bank/ AEC holds a highly transferable/ highly negotiable cash equivalent tendered investment security. This was a bare/blank endorsement granting the AEC ( Security Intermediary ) and the Bank of XXXX XXXX XXXXXXXX unlimited re-leveraging, fractionating, expansions ( multiple re-hypothecations ) on this said note. American Express National Bank/ AEC has received all the proceeds and benefits, but this Entitlement Holder has not received due consideration, due compensation, and performance. 

This will serve as adequate delivery of my notice for assertion as disclosed above. The assertion is on the property interest and the subrogation and substitution as the implied surety on behalf of the principal debtor and the American Express Company ( AEC ). This Entitlement Holder demands for the expeditious recoupment, reimbursement payment of the Senior Indebtedness, rights, interests, premiums, futures, profits, dividends, insurance policies, titles etc. arising from such transactions through the Bank XXXXXXXX XXXX XXXX XXXX 

There may exist a presumption that this Entitlement Holder has abandoned any beneficial ownership, has pledged and/or abandoned any property interest. This is incorrect. Nor am I elected to act as an accommodation party for the American Express Company/ American Express National Bank . 

The Funding Strategies et al. of the American Express 10K Form and Prospectus as referenced above and all related indentures and derivatives thereof are hereby rebutted. 

As the Granter/Entitlement Holder, this is not my intention. However, in light of the foregoing and for the complete and absolute fiduciary remedy and equitable intervention, I, as Entitlement Holder, require the following : As the Entitlement Holder, open and send the American Express Platinum Card No Preset Spending Limit Charge Card ( hereinafter, the Platinum Charge Card ) with all premium and priority benefits and privileges and derivatives thereof associated. SPECIAL INSTRUCTIONS : SEND BY OVERNIGHT MAIL to : XXXX XXXX XXXX XXXX XXXX XXXX XXXX # XXXX Washington, DC XXXX Furthermore, I express and hold harmless and indemnify all such fiduciaries of American Express National Bank/AEC who work on my behalf in absolute good faith re : this matter at issue. This Entitlement Holder shall not proceed with filings, complaints, and/ or suits with the appropriate regulatory agencies should we be able to reach a mutually beneficial agreement. 

In closing, thank you for the prompt and appropriate resolve to this matter, in advance, as I look forward to becoming a time-honored silent investor and member/consumer promoting the American Express brand. Contact me by phone : ( XXXX ) XXXX or by email : XXXX. 
Best Regards, XXXX XXXX XXXX

Company response to consumer: Closed with explanation