<TABLE>

                  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)
<CAPTION>


                         Six Months
                           Ended
                          June 30,
                        (Unaudited)            Years Ended December 31,
                        -----------            ------------------------
                        2000   1999     1999    1998    1997    1996     1995
                        ----   ----     ----    ----    ----    ----     ----

<S>                     <C>    <C>     <C>     <C>     <C>     <C>      <C>
Earnings:
Net Income              $146   $121    $ 223   $ 237   $ 212   $ 215    $ 197
Income tax provision      79     65      120     128     114     115      105
Interest expense         683    547    1,130   1,190   1,125   1,117    1,054
                        ----   ----   ------  ------  ------  ------   ------

Total earnings          $908   $733   $1,473  $1,555  $1,451  $1,447   $1,356
                        ====   ====   ======  ======  ======  ======   ======

Fixed charges -
   interest expense     $683   $547   $1,130  $1,190  $1,125  $1,117   $1,054
                        ====   ====   ======  ======  ======  ======   ======

Ratio of earnings
   to fixed charges     1.33   1.34     1.30    1.31    1.29    1.30     1.29
</TABLE>


Note:   Gross rentals on long-term leases were minimal in amount in each of
        the periods shown.

<PAGE>
<TABLE>



                  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
                         (Dollars in millions)
<CAPTION>


                           Six Months
                             Ended
                            June 30,          Years Ended December 31,
                              2000    ----------------------------------------
                          (Unaudited)   1999     1998    1997    1996    1995
                          -----------   ----     ----    ----    ----    ----

<S>                           <C>     <C>      <C>     <C>     <C>     <C>
Earnings:
Pretax income from
   continuing operations      $1,966  $3,438   $2,925  $2,750  $2,664  $2,183
Interest expense               1,408   2,178    2,224   2,122   2,160   2,343
Other adjustments                 83     151      124     127     139      95
                              ------  ------   ------  ------  ------  ------
Total earnings (a)            $3,457  $5,767   $5,273  $4,999  $4,963  $4,621
                              ------  ------   ------  ------  ------  ------

Fixed charges:
   Interest expense           $1,408  $2,178   $2,224  $2,122  $2,160  $2,343
   Other adjustments              80     152      129     129     130     135
                              ------  ------   ------  ------  ------  ------
Total fixed charges (b)       $1,488  $2,330   $2,353  $2,251  $2,290  $2,478
                              ------  ------   ------  ------  ------  ------

Ratio of earnings
   to fixed charges (a/b)       2.32    2.48     2.24    2.22    2.17    1.86
</TABLE>

Included in interest expense in the above computation is interest
expense related to the international banking operations of American
Express Company ("American Express") 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 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 at equity 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 at equity.

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

In the fourth quarter of 1995, American Express' ownership in
First Data Corporation ("FDC") was 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, American
Express' investment in FDC is accounted for as Investments - Available
for Sale.