EXHIBIT 12.1

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

|                                                                                                                                                                                                                                                  |  |                                     |      |                          |   |       |  |      |       |      |   |       |  |   |       | 
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ----------------------------------- | ---- | ------------------------ | - | ----- |  | ---- | ----- | ---- | - | ----- |  | - | ----- | 
|                                                                                                                                                                                                                                                  |  | Nine Months 
 Ended 
 September 30, |      | Years Ended December 31, |  
|                                                                                                                                                                                                                                                  |  |                                     |      |                          |  
|                                                                                                                                                                                                                                                  |  | 2009                                |      | 2008                     |   | 2007  |  | 2006 |       | 2005 |  
|                                                                                                                                                                                                                                                  |  |                                     |      |                          |   |       |  |      |       |      |  
|Earnings:                                                                                                                                                                                                                                         |  |                                     |      |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Net income                                                                                                                                                                                                                                        |  | $                                   | 269  |                          | $ | 864   |  | $    | 725   |      | $ | 622   |  | $ | 415   | 
|Income tax provision                                                                                                                                                                                                                              |  |                                     | 24   |                          |   | 132   |  |      | 60    |      |   | 95    |  |   | 50    | 
|Interest expense                                                                                                                                                                                                                                  |  |                                     | 488  |                          |   | 1,618 |  |      | 2,046 |      |   | 1,614 |  |   | 1,141 | 
|                                                                                                                                                                                                                                                  |  |                                     |      |                          |   |       |  |      |       |      |   |       |  |   |       | 
|                                                                                                                                                                                                                                                  |  |                                     |      |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Total earnings (a)                                                                                                                                                                                                                                |  | $                                   | 781  |                          | $ | 2,614 |  | $    | 2,831 |      | $ | 2,331 |  | $ | 1,606 | 
|                                                                                                                                                                                                                                                  |  |                                     |      |                          |   |       |  |      |       |      |   |       |  |   |       | 
|                                                                                                                                                                                                                                                  |  |                                     |      |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Fixed charges - Interest expense (b)                                                                                                                                                                                                              |  | $                                   | 488  |                          | $ | 1,618 |  | $    | 2,046 |      | $ | 1,614 |  | $ | 1,141 | 
|                                                                                                                                                                                                                                                  |  |                                     |      |                          |   |       |  |      |       |      |   |       |  |   |       | 
|                                                                                                                                                                                                                                                  |  |                                     |      |                          |   |       |  |      |       |      |   |       |  |   |       | 
|Ratio of earnings to fixed charges (a/b)                                                                                                                                                                                                          |  |                                     | 1.60 |                          |   | 1.62  |  |      | 1.38  |      |   | 1.44  |  |   | 1.41  | 
|                                                                                                                                                                                                                                                 
|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.

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