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


                                  EXHIBIT 12.1
          COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES
                     OF AMERICAN EXPRESS CREDIT CORPORATION
                                   (millions)
                               
                               
                 Nine Months                    
                    Ended                       
                September 30,          Year Ended December 31,
                 (Unaudited)
                 --------------     -----------------------------------
                  1996    1995      1995    1994    1993    1992   1991
                  ----    ----      ----    ----    ----    ----   ----
Earnings:                                                        
                                                                 
Income before                                                    
 extraordinary
 charge          $ 161   $ 138     $ 197   $ 139   $ 137   $ 138  $ 174
Income tax
 provision          87      74       105      75      64      70     87
Interest expense   844     773     1,054     736     599     728    946
                 -----   -----     -----   -----   -----   -----  -----
Total earnings  $1,092   $ 985    $1,356   $ 950   $ 800   $ 936 $1,207
                 =====   =====     =====   =====   =====   =====  =====

                                                           
Fixed charges:                                            
 interest expense $844    $773    $1,054    $736    $599    $728   $946
                  ====    ====    ======    ====    ====    ====   ====
Ratio of earnings
 to fixed charges 1.29    1.27     1.29     1.29    1.34*   1.29   1.28
                               
                               
Note:     Gross rentals on long-term leases were minimal in each of
          the periods shown.

          * The ratio of earnings to fixed charges calculated in accordance
            with the Receivables Agreements after the impact of the
            extraordinary charges of $34 million (pretax) was 1.28.










                                       -11-
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                    AMERICAN EXPRESS CREDIT CORPORATION
              (a wholly-owned subsidiary of American Express
                   Travel Related Services Company, Inc.)
                   
                               EXHIBIT 12.2
       COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES
                        OF AMERICAN EXPRESS COMPANY
                                (millions)
                 Nine Months
                    Ended
                September 30,
                 (Unaudited)          Year Ended December 31,
               -------------     ------------------------------------
                      1996       1995    1994    1993    1992    1991
                      ----       ----    ----    ----    ----    ----
Earnings:                                                          
                                                                   
Pretax income from
 continuing
 operations          $1,821     $2,183   $1,891  $2,326  $  896   $  622
Interest expense      1,639      2,343    1,925   1,776   2,171    2,761
Other adjustments       108         95      103      88     196      142
                     ------     ------   ------  ------  ------   ------
Total earnings(a)    $3,568     $4,621   $3,919  $4,190  $3,263   $3,525
                     ======     ======   ======  ======  ======   ======
Fixed charges:                                             
 Interest expense    $1,639     $2,343   $1,925  $1,776  $2,171   $2,761
 Other adjustments      100        135      142     130     154      147
                     ------     ------   ------  ------  ------   ------
Total fixed
 charges (b)         $1,739     $2,478   $2,067  $1,906  $2,325   $2,908
                     ======     ======   ======  ======  ======   ======
Ratio of earnings
 to fixed charges
 (a/b)                 2.05       1.86     1.90    2.20    1.40     1.21
                               
Included in interest expense in the above computation is interest expense
related to the international banking operations of American Express Company
(the "Company") and Travel Related Services' Cardmember lending activities,
which is netted against interest and dividends and Cardmember lending net
finance charge revenue, respectively, in the Consolidated Statement 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 the Company, 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.

On May 31, 1994, the Company completed the spin-off of Lehman Brothers
through a dividend to American Express common shareholders.  Accordingly,
Lehman Brothers' results are reported as a discontinued operation and are
excluded from the above computation for all periods presented.  In March 1993,
the Company reduced its ownership in First Data Corporation to approximately
22 percent through a public offering.  As a result, beginning in 1993, FDC was
reported as an equity investment in the above computation.  In the fourth
quarter of 1995, the Company's ownership was further reduced to approximately
10 percent as a result of shares issued by FDC in connection with a merger
transaction.  Accordingly, as of December 31, 1995, the Company's investment
in FDC is accounted for as Investments - Available for Sale.

                                      -12-
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