Consumer complaint received 2024-01-13 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:
It has come to my attention that I have recently been discriminated against and denied for a recent open end credit application on XX/XX/13. My denial letter is proof of this discrimination. As a federally protected consumer, this is a direct violation of my consumer rights well as securities fraud. The moment I applied for open end credit I decided to become an investor which means any person or entity that owns an obligation issued by an issuing entity. The application itself is considered a financial asset and security and I have not been given any equal consideration for my application for credits even though American Express has ran my personal information and credit history, has taken accepted the application which my default creates and opens an account whether or not I am approved or denied. The credit application is the asset provided to create collateral for the extension of credit. Credit can never be issued without collateral. Securities are to be received by the trustee simultaneously with the creation of the creditor relationship with the obligor arising from the making, drawing, negotiating or incurring of the draft, bill of exchange, appearance, or obligation. The Securities Exchange Act under lawful extension of credit, it states that it is unlawful to maintain or extend credit TO OR FOR any customer without collateral or on any other collateral securities. According to your prospectus as well as your XXXX filings and indentured agreement, The XXXX XXXX XXXX XXXX XXXXXXXX indentured trustee and are responsible for securitizing and collateralizing the notes that American Express purchases. Pledging my credit application to create a note for open end credit along with a collateral certificate and trying to assign the debt to me in the form of a loan is securities fraud. American Express has no right to deny me of an extension of credit when they are not legally allowed to give consumers loan and are only purchasing the underlying security and selling in on the secondary market. The underwriters initially propose to offer the notes directly to the public at the public offering prices set forth on the cover page of the prospectus supplement for American Express Company/American Express National Bank and may offer the notes to certain dealers. These products and services are sold through various channels, including direct mail, online applications, in house and third party sales forces, and direct response advertising. The online application is a product/instrument in which you have already been compensated for. 

American Exoress filings also state In addition, in the ordinary course of their business activities, the underwriters and their affiliates may make or hold a broad array of investments and actively trade debt and equity securities ( or related derivative securities ) and financial instruments ( including bank loans ) for their own account and for the accounts of their customers. Such investments and securities activities may involve securities and/or instruments of ours or our affiliates. If any of the underwriters or their affiliates have a lending relationship with us, certain of those underwriters or affiliates routinely hedge, and certain other of those underwriters may hedge, their credit exposure to us consistent with their customary risk management policies. Typically, these underwriters and their affiliates would hedge such exposure by entering into transactions which consist of either the purchase of credit default swaps or the creation of short positions in our securities, including potentially the notes offered hereby. Any such credit default swaps or short positions could adversely affect future trading prices of the notes offered hereby. The underwriters and their affiliates may also make investment recommendations and/or publish or express independent research views in respect of such securities or financial instruments and may hold, or recommend to clients that they acquire, long and/ or short positions in such securities and instruments. Underwriters are actively trading debt securities or other financial instruments such loans and credit agreements. 
You are required by law to provide these disclosures through an ABS-15G form with the SEC which requires asset backed securitizers to provide disclosures regarding fulfilled and unfulfilled repurchase request with respect to asset backed securities. The Terms of Notes detail the obligations and duties of the trust indentured. It states the company may from time to time, subject to compliance with any other applicable provisions of the indentured but with the consent of the holders of notes, create and issue pursuant to the indenture an unlimited principal amount of additional notes ( in excess of any amounts therefore issued ) having the same terms and conditions to those of the other outstanding notes, except that any such additional notes ( I ) may have have a different issue date and issue price from other outstanding notes and ( II ) may have a different amount of interest payable on the first interest payment date after issuance that is payable on other outstanding notes. Such additional notes shall constitute part of the same series of notes as the notes initially issued here under. Not only is American Express not providing me a loan, and selling my securities, but have the ability to sell the security multiple times for multiple values without giving me any of the security interest in return from my investment. 

If compliance with your most recent SEC filings is not honored I will be forced to contact the SEC for violation your agreement. American Express intended to decieve me and need to correct this matter. The adverse action that has taken place on my application needs to be reversed as it violates the Trust Indentured agreement American Express has with the Bank of New York Mellon and you arreglen with the SEC pursuant to the Securities Exchange Act. I need be granted the extension I am entitled to as an investor and federally protected consumer and expect any security intrest to be provided to me or credited to the account.

Company response to consumer: Closed with explanation