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

<TABLE>
<CAPTION>
                                     Nine Months
                                       Ended
                                 September 30, 2002                         Years Ended December 31,
                                 -------------------    ------------------------------------------------------------------
                                    (Unaudited)           2001         2000          1999          1998         1997
                                --------------------  --------------------------------------------------------------------
<S>                                   <C>                <C>          <C>           <C>           <C>          <C>
Earnings:
Pretax income from
   continuing operations              $2,778             $1,596       $3,908        $3,438        $2,925       $2,750
Interest expense                       1,378              2,888        2,952         2,178         2,224        2,122
Other adjustments                        130                175          163           151           124          127
                                --------------------  --------------------------------------------------------------------
Total earnings (a)                    $4,286             $4,659       $7,023        $5,767        $5,273       $4,999
                                ====================  ====================================================================

Fixed charges:
   Interest expense                   $1,378             $2,888       $2,952        $2,178        $2,224       $2,122
   Other adjustments                     114                170          165           152           129          129
                                --------------------  --------------------------------------------------------------------
Total fixed charges (b)               $1,492             $3,058       $3,117        $2,330        $2,353       $2,251
                                ====================  ====================================================================

Ratio of earnings
   to fixed charges (a/b)               2.87               1.52         2.25          2.48          2.24         2.22

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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.