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)
                                     
                                     
                       Three Months
                           Ended
                          March 31,          Year Ended December 31,
                        (Unaudited)
                      -------------------------------------------------------
                        1997    1996      1996   1995   1994   1993   1992
                        ----    ----      ----   ----   ----   ----   ----
Earnings:                                                        
                                                                 
Income before                                                    
 extraordianry charge  $   59  $   55      $ 215  $ 197 $ 139  $ 137  $ 138
Income tax provision       32      30        115    105    75     64     70
Interest expense          254     274      1,117  1,054   736    599    728
                       ------  ------      -----  ----- -----  -----  -----
Total earnings         $  345  $  359     $1,447 $1,356 $ 950  $ 800  $ 936
                       ======  ======     ====== ====== =====  =====  =====
                                                           
Fixed charges :                                            
 Interest expense      $  254  $  274     $1,117 $1,054 $ 736  $ 599  $ 728
                       ======  ======     ====== ====== =====  =====  =====
                                                           
Ratio of earnings
 to fixed charges        1.36    1.31       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)
                                     
                      Three Months
                         Ended
                       March 31,             Year Ended December 31,
                      (Unaudited)
                     -------------------------------------------------------
                          1997         1996    1995   1994    1993    1992
                          ----         ----    ----   ----    ----    ----
Earnings:                                                          
                                                                   
Pretax income from
 continuing operations  $  640       $2,664  $2,183  $1,891  $2,326  $  896
Interest expense           474        2,160   2,343   1,925   1,776   2,171
Other adjustments           32          139      95     103      88     196
                        ------       ------  ------  ------  ------  ------
Total earnings (a)      $1,146       $4,963  $4,621  $3,919  $4,190  $3,263
                        ======       ======  ======  ======  ======  ======
                                                            
Fixed charges :                                             
 Interest expense       $  474       $2,160  $2,343  $1,925  $1,776  $2,171
 Other adjustments          33          130     135     142     130     154
                        ------       ------  ------  ------  ------  ------
Total fixed charges (b) $  507       $2,290  $2,478  $2,067  $1,906  $2,325
                        ======       ======  ======  ======  ======  ======

Ratio of earnings
 to fixed charges (a/b)   2.26         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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