<PAGE>
                            UNITED STATES
                 SECURITIES AND EXCHANGE COMMISSION
                         Washington, DC 20549
                         ____________________
                               
                              FORM 10-Q
                         ____________________

  (X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                            EXCHANGE ACT OF 1934
                               
             For the quarterly period ended September 30, 1997
                               
  ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                            EXCHANGE ACT OF 1934
                 For the transition period from ____ to ____
                         Commission File No. 1-6908
                               
                     AMERICAN EXPRESS CREDIT CORPORATION
            (Exact name of registrant as specified in its charter)

            Delaware                             11-1988350
(State or other jurisdiction of      (I.R.S. Employer Identification No.)
 incorporation or organization)
                                                   
One Christina Centre, Wilmington, Delaware        19801-2919
(Address of principal executive offices)          (Zip Code)

Registrant's telephone number, including area code: (302) 594-3350

--------------------------------------------------------------------------
Former name, former address and former fiscal year, if changed since
last report.

THE REGISTRANT MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTION H(1)(a)
AND (b) OF FORM 10-Q AND HAS THEREFORE OMITTED CERTAIN ITEMS FROM THIS REPORT
IN ACCORDANCE WITH THE REDUCED DISCLOSURE FORMAT PERMITTED UNDER GENERAL
INSTRUCTIONS H(2).

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.   YES    X   NO
                                                       ---     ---

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

Class                              Outstanding at November 13, 1997
-----------------------------      --------------------------------
Common Stock, $.10 par value       1,504,938 shares







<PAGE>
             
                      AMERICAN EXPRESS CREDIT CORPORATION
                (a wholly-owned subsidiary of American Express
                      Travel Related Services Company, Inc.)
                               
                                  FORM 10-Q
                               
                                    INDEX
                               
                                                                Page No.
                                                                --------
PART I.  FINANCIAL INFORMATION                       
                                                     
         Item 1.  Financial Statements
                                                     
                  Condensed consolidated statements of income
                  and retained earnings - three and nine months
                  ended September 30, 1997 and 1996                   3
                                                        
                  Condensed consolidated balance sheets -
                  September 30, 1997 and December 31, 1996            4
                                                        
                  Condensed consolidated statements of cash flows
                  - nine months ended September 30, 1997 and 1996     5
                                                        
                  Notes to condensed consolidated
                  financial statements                                6
                                                        
         Item 2.  Management's Discussion and Analysis
                  of Financial Condition and Results of Operations    7
                                                        
                                                        
PART II. OTHER INFORMATION                              
                                                        
         Item 6.  Exhibits and Reports on Form 8-K                   10

                               





















                                    2
<PAGE>
                      AMERICAN EXPRESS CREDIT CORPORATION
                 (a wholly-owned subsidiary of American Express
                      Travel Related Services Company, Inc.)
                               
                                     PART I
                               
Item 1.        Financial Statements
                               
                               
               CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                          AND RETAINED EARNINGS
                               (millions)
                               (Unaudited)

                                       Three Months Ended   Nine Months Ended
                                           September 30,      September 30,
                                           1997     1996      1997     1996
                                           ----     ----      ----     ----
Revenues    
Revenue earned from purchased
 accounts receivable                      $ 456    $ 453    $1,300   $1,375
Interest income from affiliates              46       40       127      120
Interest income from investments             39       46        98      145
Other income                                  1        1         4        3
                                          -----    -----    ------   ------
Total                                       542      540     1,529    1,643
                                          -----    -----    ------   ------
                                                      
Expenses                                              
Interest expense - affiliates                49       33       130      104
Interest expense - other                    245      248       690      740
Provision for doubtful accounts,
 net of recoveries                          155      169       429      547
Other expenses                                7        1        22        4
                                          -----    -----    ------   ------
Total                                       456      451     1,271    1,395
                                          -----    -----    ------   ------
                                                      
Income before taxes                          86       89       258      248
Income tax provision                         30       31        90       87
                                          -----    -----    ------   ------
Net income                                   56       58       168      161
                                                      
Retained earnings at beginning of period  1,795    1,721     1,683    1,618
                                         ------   ------    ------   ------
Retained earnings at end of period       $1,851   $1,779    $1,851   $1,779
                                         ======   ======    ======   ======


           See notes to condensed consolidated financial statements.







                                      3
<PAGE>
                       AMERICAN EXPRESS CREDIT CORPORATION
                  (a wholly-owned subsidiary of American Express
                      Travel Related Services Company, Inc.)
                     
                       CONDENSED CONSOLIDATED BALANCE SHEETS
                                     (millions)
                               

                                                (Unaudited)
                                                September 30,    December 31,
                                                    1997             1996
                                                    ----             ----
Assets                                        
Cash and cash equivalents                        $ 1,382            $ 267
Investments                                          218                -
Accounts receivable                               17,871           17,359
 Less: reserve for doubtful accounts                 634              638
                                                 -------          -------
                                                  17,237           16,721
                                              
Loans and deposits with affiliates                 3,150            2,850
Deferred charges and other assets                    412              327
                                                 -------          -------
Total assets                                     $22,399          $20,165
                                                 =======          =======
                                              
Liabilities and shareholder's equity
Short-term debt with affiliates                  $ 2,219          $ 1,275
Short-term debt - other                           14,184           13,262
Current portion of long-term debt - other              4              211
Long-term debt with affiliate                        910              910
Long-term debt - other                             2,360            1,559
                                                 -------          -------
Total debt                                        19,677           17,217
                                              
Due to affiliates                                    467              858
Accrued interest and other liabilities               153              145
                                                 -------          -------
Total liabilities                                 20,297           18,220
                                                 -------          -------
                                              
Deferred discount revenue                             89              100
                                                 -------          -------
                                              
Shareholder's equity:                         
     Common stock                                      1                1
     Capital surplus                                 161              161
     Retained earnings                             1,851            1,683
                                                 -------          -------
Total shareholder's equity                         2,013            1,845
                                                 -------          -------
Total liabilities and sharesholder's equity      $22,399          $20,165
                                                 =======          =======

          See notes to condensed consolidated financial statements.


                                      4
<PAGE>
                     AMERICAN EXPRESS CREDIT CORPORATION
                (a wholly-owned subsidiary of American Express
                     Travel Related Services Company, Inc.)

                CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (millions)
                                   (Unaudited)
                                                         Nine Months Ended
                                                           September 30,
                                                         ------------------
                                                           1997      1996
                                                           ----      ----
Cash Flows from Operating Activities:                           
Net income                                               $  168    $  161
Adjustments to reconcile net income to net cash and
   cash equivalents provided by operating activities:
   Provision for doubtful accounts, net of recoveries       429       547
   Amortization of deferred underwriting fees and bond
     discount/premium                                         6         1
   Changes in operating assets and liabilities:
     Increase in deferred tax assets                        (50)      (19)
     Decrease(increase) in interest receivable and other
      operating assets                                        5       (94)
     Increase in accrued interest and other liabilities      40         4
     Increase in due to affiliates                           89        71
     Decrease in deferred discount revenue                  (11)      (28)
                                                          ------    ------
Net cash provided by operating activities                   676       643
                                                          ------    ------
                                                       
Cash Flows from Investing Activities:                  
Increase in accounts receivable                            (785)   (1,017)
Sale of net accounts receivable to an affiliate             219     2,294
Purchase of participation interest in seller's interest
  in accounts receivable from an affiliate                 (728)   (2,178)
Sale of participation interest in seller's interest
  in accounts receivable to an affiliate                     95     1,304
Recoveries of accounts receivable previously written off    136       141
Purchase of investments                                    (247)        -
Maturity of investments                                      29         -
Increase in loans and deposits due from affiliates         (300)        -
Decrease in due to affiliates from purchased receivables   (450)     (531)
                                                         -------    ------
Net cash(used in) provided by investing activities       (2,031)       13
                                                         -------    ------
                                                       
Cash Flows from Financing Activities:                  
Net increase(decrease) in short-term debt with affiliates
  with maturity less than ninety days                       944       (14)
Net (decrease)increase in short-term debt - other
  with maturity less than ninety days                        (4)    6,621
Proceeds from issuance of debt                            6,561     6,167
Repayment of debt                                        (5,031)  (12,387)
                                                         -------  --------
Net cash provided by financing activities                 2,470       387
                                                         -------  --------
                                                       
Net increase in cash and cash equivalents                 1,115     1,043
Cash and cash equivalents at beginning of period            267     1,190
                                                         ------    ------
Cash and cash equivalents at end of period               $1,382    $2,233
                                                         ======    ======
                               
         See notes to condensed consolidated financial statements.

                                   5
 <PAGE>
                   AMERICAN EXPRESS CREDIT CORPORATION
               (a wholly-owned subsidiary of American Express
                   Travel Related Services Company, Inc.)

             
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1.  The condensed consolidated financial statements should be
    read in conjunction with the Annual Report of American Express
    Credit Corporation, including its subsidiaries where
    appropriate, ("Credco") on Form 10-K for the year ended
    December 31, 1996.  Significant accounting policies disclosed
    therein have not changed.

    The condensed consolidated financial statements are
    unaudited; however, in the opinion of management, they
    include all adjustments (consisting of normal recurring
    adjustments) necessary for a fair presentation of the
    consolidated financial position of Credco at September 30,
    1997 and the consolidated results of its operations and
    changes in its retained earnings for the nine-month periods
    ended September 30, 1997 and 1996 and cash flows for the
    nine-month periods ended September 30, 1997 and 1996.
    Results of operations reported for interim periods are not
    necessarily indicative of results for the entire year.

2.  For the nine-month periods ended September 30, 1997 and
    1996, Credco paid $809 million and $844 million of interest,
    respectively.  Income taxes paid for each of the nine-month
    periods ended September 30, 1997 and 1996 were $44 million
    and $124 million, respectively.

3.  Management determines the appropriate classification of
    debt securities at the time of purchase.  Debt securities are
    classified as held to maturity when Credco has the positive
    intent and ability to hold the securities to maturity.  Held
    to maturity securities are stated at amortized cost. At
    September 30, 1997, Credco held $218 million of American
    Express Master Trust Class B Certificates.  These securities
    are classified as held to maturity and are stated at amortized
    cost.  The fair value of these securities at September 30,
    1997 was $220 million.

4.  In May and August 1997, Credco issued and sold $400
    million Floating Rate Notes and $400 million of 6.5% Fixed
    Rate Notes, respectively, due 2002 under the Euro Medium Term
    Notes program established during 1996 by Credco, American
    Express Travel Related Services Company, Inc. ("TRS"),
    American Express Overseas Credit Corporation Limited
    ("AEOCC"), a wholly-owned subsidiary of Credco, and American
    Express Bank Ltd.  The maximum aggregate principal amount of
    debt instruments outstanding at any one time under the program
    will not exceed $3 billion.

5.  In July 1997, $500 million Class A Fixed Rate Accounts
    Receivable Trust Certificates matured from the charge card
    securitization portfolio which increases the participation interests
    owned by Credco Receivables Corp. ("CRC"), a wholly-owned subsidiary of
    Credco.  CRC owns a participation in the seller's interest in charge 
    Cardmember receivables that have been conveyed to the American
    Express Master Trust.

                                     6
<PAGE>
Item 2.  Management's Discussion and Analysis of Financial
         Condition and Results of Operations

Liquidity and Capital Resources

In May and August 1997, Credco issued and sold, exclusively outside the
United States to non-U.S. persons, $400 million Floating Rate Notes and
$400 million 6.5% Fixed Rate Notes, respectively, due 2002 listed on the
Luxembourg Stock Exchange.  These notes were issued under the Euro Medium
Term Notes program established during 1996 by Credco, American Express
Travel Related Services Company, Inc. ("TRS"), American Express Overseas
Credit Corporation Limited ("AEOCC"), a wholly-owned subsidiary of Credco,
and American Express Bank Ltd.  The maximum aggregate principal amount of
debt instruments outstanding at any one time under the program will not
exceed $3 billion.

In May 1997, Credco renegotiated its credit facilities, increasing available
credit lines by $200 million to $6.8 billion.

At September 30, 1997, Credco had the ability to issue $1 billion of medium-
and long-term debt securities under shelf registrations filed with the
Securities and Exchange Commission.  In October 1997, Credco filed a 
registration statement on Form S-3 with the Securities and Exchange Commission
to increase by $1.5 billion the amount of medium- and long-term debt to 
be available for issuance under shelf registrations.  This registration 
statement was declared effective on November 3, 1997.


Results of Operations

Credco purchases Cardmember receivables without recourse from 
TRS or its subsidiaries.  Non-interest-bearing charge Cardmember 
receivables are purchased at face amount less a specified discount 
agreed upon from time to time, and interest-bearing revolving credit 
Cardmember receivables are generally purchased at face amount.  
Non-interest-bearing receivables are purchased under Receivables 
Agreements that generally provide that the discount rate shall not be 
lower than a rate that yields earnings of at least 1.25 times fixed charges 
on an annual basis.  The ratio of earnings to fixed charges for the
nine month periods ended September 30, 1997 and 1996 was 1.32 and 1.29,
respectively.  The ratio of earnings to fixed charges for American Express
Company (the "Company"), the parent of TRS, for the nine-month periods ended
September 30, 1997 and 1996 was 2.24 and 2.05, respectively.  The Receivables
Agreements also provide that consideration will be given from time to 
time to revising the discount rate applicable to purchases of new
receivables to reflect changes in money market interest rates or significant
changes in the collectibility of receivables.  Pretax income depends primarily
on the volume of Cardmember receivables purchased, the discount rates
applicable thereto, the relationship of total discount to Credco's interest
expense and the collectibility of the receivables purchased.

Credco purchased $105 billion and $100 billion of Cardmember receivables
during the nine-month periods ended September 30, 1997 and 1996, respectively.
At September 30, 1997 and December 31, 1996, Credco owned $16.1 billion and
$15.6 billion, respectively, of non-interest-bearing receivables of which

                                    7

<PAGE>
                   AMERICAN EXPRESS CREDIT CORPORATION
               (a wholly-owned subsidiary of American Express
                   Travel Related Services Company, Inc.)


$2.8 billion and $3.4 billion, respectively, were participation interests
owned by Credco Receivables Corp.  ("CRC"), a wholly-owned subsidiary of 
Credco.  CRC owns a participation in the seller's interest in charge 
Cardmember receivables that have been conveyed to the American Express Master 
Trust (the "Trust").  This Trust was formed in 1992 by TRS to securitize U.S.
consumer charge Cardmember receivables.

In addition, at both September 30, 1997 and December 31, 1996, Credco owned
extended payment plan receivables totaling $1.8 billion, including revolving
credit loans purchased directly from American Express Centurion Bank
("Centurion Bank"), a subsidiary of TRS.  The extended payment plan 
receivables owned at September 30, 1997 and December 31, 1996 include 
$225 million and $104 million, respectively, of participation interest owned 
by CRC.  This represents a participation in the seller's interest in revolving
credit receivables that have been conveyed to the American Express Credit 
Account Master Trust (the "Master Trust").  This Master Trust was formed by 
Centurion Bank during the second quarter of 1996 to securitize revolving 
credit loans.

For both nine-month periods ended September 30, 1997 and 1996, the average 
life of Cardmember receivables owned by Credco was 44 days.

Credco's write-offs, net of recoveries, as a percentage of the volume of
Cardmember receivables purchased for the nine-month periods ended 
September 30, 1997 and 1996 was .43 percent and .48 percent, respectively.

Credco's decrease in revenue for the nine-month period ended September 30, 
1997, is due primarily to a decrease in discount rates earned on purchased 
accounts receivable.  Decreased interest income for the nine-month period 
ended September 30, 1997 is attributable to lower average investments.  
Interest expense decreased for the nine-month period ended September 30, 
1997 due to an overall decrease in volume and interest rates.  
Provision for doubtful accounts for the nine-month period also decreased 
primarily reflecting lower provision rates.
                               
The following is an analysis of the increase (decrease) in key revenue and
expense accounts for the nine-month period ended September 30, 1997,
compared with the nine-month period ended September 30, 1996 ($ in millions):

                                                                    Nine
                                                                    Month
                                                                    Period
                                                                    ------
Revenue earned from purchased accounts receivable-
 changes attributable to:
    Volume of receivables purchased                                    84
    Discount and interest rates                                      (159)
                                                                     -----
      Total                                                           (75)
                                                                     =====

Interest income from affiliates-changes attributable to:
    Volume of average investments outstanding                           4
    Interest rates                                                      3
                                                                     -----
      Total                                                             7
                                                                     =====

                                       8
<PAGE>
                   AMERICAN EXPRESS CREDIT CORPORATION
               (a wholly-owned subsidiary of American Express
                   Travel Related Services Company, Inc.)


Interest income from investments- changes attributable to:
    Volume of average investments outstanding                         (55)
    Interest rates                                                      8
                                                                     -----
      Total                                                           (47)
                                                                     =====
                                                       
Interest expense (affiliates)-changes attributable to:
    Volume of average debt outstanding                                 21
    Interest rates                                                      5
                                                                     -----
      Total                                                            26
                                                                     =====

Interest expense (other)-changes attributable to:
    Volume of average debt outstanding                                (37)
    Interest rates                                                    (13)
                                                                     -----
      Total                                                           (50)
                                                                     =====
                                                       
Provision for doubtful accounts-changes attributable to:
    Volume of receivables purchased                                    30
    Provision rates and volume of recoveries                         (148)
                                                                     -----
      Total                                                          (118)
                                                                     =====


The following is an analysis of Cardmember reserve for doubtful accounts:

                                            1997        1996
                                            ----        ----
          Balance, January 1               $ 638       $ 624
          Provision for losses               565         687
          Accounts written off               583         621
          Other                               14         (70)
                                           -----       -----
          Balance, September 30            $ 634       $ 620
                                           =====       =====

The following table shows the aging of charge card receivables:

                                                September 30,
                                             1997          1996
                                             ----          ----
                 Current                     78.7%         77.4%
                 30 to 59 days               15.5          16.6
                 60 to 89 days                2.3           2.5
                 90 days and over             3.5           3.5


                                    9
<PAGE>
                   AMERICAN EXPRESS CREDIT CORPORATION
               (a wholly-owned subsidiary of American Express
                   Travel Related Services Company, Inc.)


                          PART II.  OTHER INFORMATION


Item 6.  Exhibits and Reports on Form 8-K

         (a)  Exhibits:

              12.1  Computation in support of ratio of earnings to
                    fixed charges of American Express Credit Corporation.

              12.2  Computation in support of ratio of earnings to fixed
                    charges of American Express Company.

              27.   Financial data schedule.

         (b)  Reports on Form 8-K

              None.



































                                      10
<PAGE>
                       AMERICAN EXPRESS CREDIT CORPORATION
                   (a wholly-owned subsdiary of American Express
                        Travel Related Services Company, Inc.)



                                     SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                      AMERICAN EXPRESS CREDIT CORPORATION
                                  (REGISTRANT)
                               
DATE   November 13, 1997        /s/Vincent P. Lisanke
                                ------------------------------------
                                Vincent P.  Lisanke
                                (President, Chief Executive Officer
                                 and Chief Accounting Officer)
                               





































<PAGE>
                               
                               EXHIBIT INDEX
                               
                   Pursuant to Item 601 of Regulation S-K
                               
                   Description                         How Filed
                   -----------                         ---------
                                         
Exhibit 12.1   Computation in support of ratio of      Electronically
               earnings to fixed charges of            filed herewith.
               American Express Credit Corporation.
                                         
Exhibit 12.2   Computation in support of ratio of      Electronically
               earnings to fixed charges of            filed herewith.
               American Express Company.
                                         
Exhibit 27     Financial data schedule.                Electronically
                                                       filed herewith.









































<PAGE>