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

|                                           |  |                                 |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|------------------------------------------ |  | ------------------------------- | ----- | ------------------------ | - | ----- |  | ---- | ----- | ---- | - | ----- |  | - | ----- | 
|                                           |  | Nine Months Ended September 30, |       | Years Ended December 31, |  
|                                           |  |                                 |       |                          |  
|                                           |  | 2006                            |       | 2005                     |   | 2004  |  | 2003 |       | 2002 |  
|                                           |  |                                 |       |                          |   |       |  |      |       |      |  
|Earnings:                                  |  |                                 |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Pretax income
  from continuing operations |  | $                               | 4,105 |                          | $ | 4,248 |  | $    | 3,831 |      | $ | 3,415 |  | $ | 3,021 | 
|Interest expense                           |  |                                 | 2,058 |                          |   | 2,168 |  |      | 1,659 |      |   | 1,606 |  |   | 1,832 | 
|Other
  adjustments                        |  |                                 | 104   |                          |   | 150   |  |      | 151   |      |   | 154   |  |   | 174   | 
|                                           |  |                                 |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Total earnings
  (a)                       |  | $                               | 6,267 |                          | $ | 6,566 |  | $    | 5,641 |      | $ | 5,175 |  | $ | 5,027 | 
|                                           |  |                                 |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|                                           |  |                                 |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Fixed charges:                             |  |                                 |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Interest expense                           |  | $                               | 2,058 |                          | $ | 2,168 |  | $    | 1,659 |      | $ | 1,606 |  | $ | 1,832 | 
|Other
  adjustments                        |  |                                 | 80    |                          |   | 151   |  |      | 145   |      |   | 139   |  |   | 151   | 
|                                           |  |                                 |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Total fixed
  charges (b)                  |  | $                               | 2,138 |                          | $ | 2,319 |  | $    | 1,804 |      | $ | 1,745 |  | $ | 1,983 | 
|                                           |  |                                 |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|                                           |  |                                 |       |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Ratio of
  earnings to fixed charges (a/b) |  |                                 | 2.93  |                          |   | 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 other investment and
interest income, net of interest and cardmember lending finance charge revenue,
net of interest, 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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