EXHIBIT 12.2
AMERICAN EXPRESS COMPANY
COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES(Dollars in millions)

|                                         |  |                              |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|---------------------------------------- |  | ---------------------------- | ----- | ------------------------ | - | ----- |  | ---- | ----- | ---- | - | ----- |  | - | ----- | 
|                                         |  | Six Months 
  Ended June 30, |       | Years Ended December 31, |  
|                                         |  |                              |       |                          |  
|                                         |  | 2006                         |       | 2005                     |   | 2004  |  | 2003 |       | 2002 |  
|                                         |  |                              |       |                         
|Earnings:                                |  |                              |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Pretax income from continuing operations |  | $                            | 1,848 |                          | $ | 4,248 |  | $    | 3,831 |      | $ | 3,415 |  | $ | 3,021 | 
|Interest expense                         |  |                              | 1,297 |                          |   | 2,168 |  |      | 1,659 |      |   | 1,606 |  |   | 1,832 | 
|Other adjustments                        |  |                              | 70    |                          |   | 150   |  |      | 151   |      |   | 154   |  |   | 174   | 
|                                         |  |                              |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Total earnings (a)                       |  | $                            | 3,215 |                          | $ | 6,566 |  | $    | 5,641 |      | $ | 5,175 |  | $ | 5,027 | 
|                                         |  |                              |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|                                         |  |                              |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Fixed charges:                           |  |                              |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Interest expense                         |  | $                            | 1,297 |                          | $ | 2,168 |  | $    | 1,659 |      | $ | 1,606 |  | $ | 1,832 | 
|Other adjustments                        |  |                              | 54    |                          |   | 151   |  |      | 145   |      |   | 139   |  |   | 151   | 
|                                         |  |                              |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Total fixed charges (b)                  |  | $                            | 1,351 |                          | $ | 2,319 |  | $    | 1,804 |      | $ | 1,745 |  | $ | 1,983 | 
|                                         |  |                              |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|                                         |  |                              |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Ratio of earnings to fixed charges (a/b) |  |                              | 2.38  |                          |   | 2.83  |  |      | 3.13  |      |   | 2.97  |  |   | 2.54  | 

Included in
interest expense in the above computation is interest expense related to the
international banking operations and the cardmember lending activities, which
is netted against net investment income and cardmember lending net finance
charge revenue, respectively, in the American Express Consolidated Statements of
Income.

For purposes
of the earnings computation, other adjustments include adding the
amortization of capitalized interest, the net loss of affiliates accounted for
under the equity method whose debt is not guaranteed by American Express, the
minority interest in the earnings of majority-owned subsidiaries with fixed
charges, and the interest component of rental expense and subtracting
undistributed net income of affiliates accounted for under the equity method.

For purposes
of the fixed charges computation, other adjustments include capitalized
interest costs and the interest component of rental expense.

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