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)
                                     
                                     
                             Six Months
                                Ended
                               June 30,        Year Ended December 31,
                             (Unaudited)
                             ------------     -----------------------------
                              1997   1996     1996   1995  1994  1993  1992
                              ----   ----     ----   ----  ----  ----  ----
Earnings:                                                        
                                                                 
Income before extraordinary
  charge                      $112   $103     $215   $197  $139  $137  $138
Income tax provision            60     56      115    105    75    64    70
Interest expense               526    563    1,117  1,054   736   599   728
                             -----  -----    -----  -----  ----  ----  ----
Total earnings                $698   $722   $1,447 $1,356  $950  $800  $936
                             =====  =====   ====== ======  ====  ====  ====
Fixed charges -                                            
  interest expense            $526   $563   $1,117 $1,054  $736  $599  $728
                              ====   ====   ====== ======  ====  ====  ====
Ratio of earning to
  fixed charges               1.33   1.28     1.30   1.29  1.29  1.34* 1.29

                                     
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.
     









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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)
                                     
                         Six Months
                            Ended
                          June 30,
                        (Unaudited)         Year Ended December 31,
                        -----------  ---------------------------------------
                            1997      1996    1995    1994    1993    1992
                            ----      ----    ----    ----    ----    ----
Earnings:                                                          
                                                                   
Pretax income from
  continuing operations    $1,342    $2,664  $2,183  $1,891  $2,326  $  896
Interest expense            1,014     2,160   2,343   1,925   1,776   2,171
Other adjustments              59       139      95     103      88     196
                           ------    ------  ------  ------  ------  ------
Total earnings (a)         $2,415    $4,963  $4,621  $3,919  $4,190  $3,263
                           ======    ======  ======  ======  ======  ======
Fixed charges -                                             
  Interest expense         $1,014    $2,160  $2,343  $1,925  $1,776  $2,171
  Other adjustments            66       130     135     142     130     154
                           ------    ------  ------  ------  ------  ------
Total fixed charges (b)    $1,080    $2,290  $2,478  $2,067  $1,906  $2,325
                           ======    ======  ======  ======  ======  ======

Ratio of earnings to
  fixed charges (a/b)        2.24      2.17    1.86    1.90    2.20    1.40
                                     

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 
of American Express Company.

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 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 at equity.

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.
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