EXHIBIT 12.1

AMERICAN EXPRESS CREDIT CORPORATION 
COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES(Dollars in millions)

|                                         |  |                                   |                           |   |      |      |      |   |       |  |   |       |  |   |       | 
|---------------------------------------- |  | --------------------------------- | ------------------------- | - | ---- | ---- | ---- | - | ----- |  | - | ----- |  | - | ----- | 
|                                         |  |                                   |                           |   |      |      |      |   |       |  |   |       |  |   |       | 
|                                         |  | Nine MonthsEndedSeptember 30,2010 |                           |   |     
|                                         |  |                                   | Years
 Ended December 31, |  
|                                         |  |                                   |                           |  
|                                         |  |                                   | 2009                      |   | 2008 |      | 2007 |   | 2006  | 
|                                         |  |                                   |                           |   |      |      |      |   |       |  |  
|Earnings:                                |  |                                   |                           |   |      |      |      |   |       |  |   |       |  |   |       | 
|Net income                               |  | $                                 | 269                       |   | $    | 362  |      | $ | 864   |  | $ | 725   |  | $ | 622   | 
|Income tax (benefit) provision           |  |                                   | (16                       | ) |      | 8    |      |   | 132   |  |   | 60    |  |   | 95    | 
|Interest expense                         |  |                                   | 428                       |   |      | 629  |      |   | 1,618 |  |   | 2,046 |  |   | 1,614 | 
|                                         |  |                                   |                           |   |      |      |      |   |       |  |   |       |  |   |       | 
|                                         |  |                                   |                           |   |      |      |      |   |       |  |   |       |  |   |       | 
|Total earnings (a)                       |  | $                                 | 681                       |   | $    | 999  |      | $ | 2,614 |  | $ | 2,831 |  | $ | 2,331 | 
|                                         |  |                                   |                           |   |      |      |      |   |       |  |   |       |  |   |       | 
|                                         |  |                                   |                           |   |      |      |      |   |       |  |   |       |  |   |       | 
|Fixed charges - Interest expense (b)     |  | $                                 | 428                       |   | $    | 629  |      | $ | 1,618 |  | $ | 2,046 |  | $ | 1,614 | 
|                                         |  |                                   |                           |   |      |      |      |   |       |  |   |       |  |   |       | 
|                                         |  |                                   |                           |   |      |      |      |   |       |  |   |       |  |   |       | 
|Ratio of earnings to fixed charges (a/b) |  |                                   | 1.59                      |   |      | 1.59 |      |   | 1.62  |  |   | 1.38  |  |   | 1.44  | 
|                                         |  |                                   |                           |   |      |      |      |   |       |  |   |       |  |   |       | 

Interest
expense does not include interest on liabilities recorded in accordance with
GAAP governing unrecognized tax benefits. Credcos policy is to classify such
interest in income tax provision in the Consolidated Statements of Income.

E-2

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