EXHIBIT 12.1

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

|                                          |  |                |      |                          |   |      |   |      |      |      |   |       |  |   |       | 
|----------------------------------------- |  | -------------- | ---- | ------------------------ | - | ---- | - | ---- | ---- | ---- | - | ----- |  | - | ----- | 
|                                          |  |                |      |                          |   |      |   |      |      |      |   |       |  |   |       | 
|                                          |  | Three Months   |      | Years Ended December 31, |  
|                                          |  | Ended          |      |                          |  
|                                          |  | March 31, 2011 |      | 2010                     |   | 2009 |   | 2008 |      | 2007 |  
|                                          |  |                |      |                          |   |      |   |      |      |      |  
|Earnings:                                 |  |                |      |                          |   |      |   |      |      |      |   |       |  |   |       | 
|Net income                                |  | $              | 69   |                          | $ | 348  |   | $    | 362  |      | $ | 864   |  | $ | 725   | 
|Income tax provision (benefit)            |  |                | ―    |                          |   | (24  | ) |      | 8    |      |   | 132   |  |   | 60    | 
|Interest expense                          |  |                | 166  |                          |   | 598  |   |      | 629  |      |   | 1,618 |  |   | 2,046 | 
|                                          |  |                |      |                          |   |      |   |      |      |      |   |       |  |   |       | 
|                                          |  |                |      |                          |   |      |   |      |      |      |   |       |  |   |       | 
|Total
 earnings (a)                       |  | $              | 235  |                          | $ | 922  |   | $    | 999  |      | $ | 2,614 |  | $ | 2,831 | 
|                                          |  |                |      |                          |   |      |   |      |      |      |   |       |  |   |       | 
|                                          |  |                |      |                          |   |      |   |      |      |      |   |       |  |   |       | 
|Fixed
 charges ― Interest expense (b)     |  | $              | 166  |                          | $ | 598  |   | $    | 629  |      | $ | 1,618 |  | $ | 2,046 | 
|                                          |  |                |      |                          |   |      |   |      |      |      |   |       |  |   |       | 
|                                          |  |                |      |                          |   |      |   |      |      |      |   |       |  |   |       | 
|Ratio of
 earnings to fixed charges (a/b) |  |                | 1.42 |                          |   | 1.54 |   |      | 1.59 |      |   | 1.62  |  |   | 1.38  | 
|                                          |  |                |      |                          |   |      |   |      |      |      |   |       |  |   |       | 

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.

E-2

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