UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C. 20549

                             FORM 10-K

        [x] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                 THE SECURITIES EXCHANGE ACT OF 1934
              For the fiscal year ended December 31, 1999

                                 OR

      [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                 THE SECURITIES EXCHANGE ACT OF 1934
              For the transition period from _____ to ______

Commission File Nos. 000-20787-01; 000-20787-00; 33-95784; 333-67567;
                     333-91473-00; 333-91473-01

           AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST
                      (Issuer of Certificates)

                 AMERICAN EXPRESS CENTURION BANK
           Co-Originator of the Trust and a Transferor
       -----------------------------------------------------
       (Exact name of registrant as specified in its charter)

          Utah                                           11-2869526
----------------------------                           ---------------
(State or other jurisdiction                          (I.R.S. Employer
of incorporation or organization)                    Identification No.)

6985 Union Park Center, Midvale, Utah                      84047
----------------------------------------                  --------
(Address of principal executive offices)                 (Zip code)

Registrant's telephone number, including area code  (801) 565-5000

       AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION II
           Co-Originator of the Trust and a Transferor
       -----------------------------------------------------
       (Exact name of registrant as specified in its charter)

          Delaware                                       13-3854638
-----------------------------                          ---------------
(State or other jurisdiction                          (I.R.S. Employer
of incorporation or organization)                    Identification No.)

200 Vesey Street, New York, New York                       10285
---------------------------------------                  ---------
(Address of principal executive offices)                 (Zip code)

Registrant's telephone number, including area code  (212) 640-4473

  Securities registered pursuant to Section 12(b) of the Act:  NONE

  Securities Registered Pursuant to Section 12(g) of the Act:
  the Class A Series 1996-1 6.80% Asset Backed Certificates,
  the Class B Series 1996-1 6.95% Asset Backed Certificates,
  the Class A Series 1997-1 6.40% Asset Backed Certificates,
  the Class B Series 1997-1 6.55% Asset Backed Certificates,
  the Class A Series 1998-1 Floating Rate Asset Backed Certificates,
  the Class B Series 1998-1 Floating Rate Asset Backed Certificates,
  the Class A Series 1999-1 5.60% Asset Backed Certificates,
  the Class B Series 1999-1 5.85% Asset Backed Certificates,
  the Class A Series 1999-2 5.95% Asset Backed Certificates,
  the Class B Series 1999-2 6.10% Asset Backed Certificates,
  the Class A Series 1999-3 Floating Rate Asset Backed Certificates,
  the Class B Series 1999-3 Floating Rate Asset Backed Certificates,
  the Class A Series 1999-4 Floating Rate Asset Backed Certificates,
  the Class B Series 1999-4 Floating Rate Asset Backed Certificates,
  the Class A Series 1999-5 Floating Rate Asset Backed Certificates,
  the Class B Series 1999-5 Floating Rate Asset Backed Certificates,
  the Class A Series 1999-6 Floating Rate Asset Backed Certificates,
  the Class B Series 1999-6 Floating Rate Asset Backed Certificates.

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports)  and  (2)  has  been  subject  to such  filing
requirements for the past 90 days. Yes x        No

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation S-K is not contained herein and will not be contained, to the best
of the registrant's  knowledge,  in definitive  proxy or information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K.  Not applicable.

State the aggregate market value of the voting stock held by  non-affiliates  of
the registrant:  Not applicable.

                    DOCUMENTS INCORPORATED BY REFERENCE: NONE


<PAGE>



                                     PART I

Item 1.  Business

         The American  Express  Credit  Account  Master Trust (the  "Trust") was
formed pursuant to a Pooling and Servicing Agreement (the "Agreement"), dated as
of May 16, 1996,  among American  Express  Centurion  Bank and American  Express
Receivables Financing Corporation II ("RFC II"), each as an Originator, American
Express  Travel  Related  Services  Company,  Inc.  ("TRS"),  as  servicer  (the
"Servicer"),  and The Bank of New York,  as trustee (the  "Trustee").  RFC II, a
Delaware  corporation,  is a wholly owned subsidiary of TRS. It was incorporated
on August 7,  1995.  Its  principal  executive  office is  located  at 200 Vesey
Street, New York, New York. TRS is a wholly owned subsidiary of American Express
Company.  It was  incorporated  in the  state of New York on May 3, 1982 and its
principal executive offices are located at 200 Vesey Street, New York, New York.
American Express Centurion Bank was incorporated  under Delaware banking laws as
a limited service bank in 1985. As of July 1, 1996, its business was combined by
merger with another  subsidiary  of TRS that is a  Utah-chartered,  FDIC-insured
industrial  loan  company.  The  surviving  institution  was renamed as American
Express Centurion Bank ("Centurion").  Its principal executive office is located
at 6985 Union Park Center, Midvale, Utah.

         The Trust was formed for the purpose of acquiring and holding the Trust
Assets (defined below) and from time to time issuing  asset-backed  certificates
(the  "Certificates")  under the Agreement and one or more  supplements  thereto
(each, a "Supplement"),  including  issuing and selling certain  Certificates to
investors in  underwritten  public  offerings  ("Investor  Certificates").  Each
Certificate  represents  an  undivided  interest  in the  Trust and the right to
receive  payments of interest at a specified  rate and  payments of principal at
certain times during the term of the Trust. Each series of Investor Certificates
(each, a "Series")  will have its own Supplement to govern the individual  terms
and allocations applicable to such Series.

         The property of the Trust (the "Trust  Assets") includes a portfolio of
receivables  (the  "Receivables")  generated from time to time in a portfolio of
Optima(R)  Card,  Optima  Line of Credit and Sign & Travel(R)  revolving  credit
accounts  and other charge or credit  accounts  (collectively,  the  "Accounts")
owned by Centurion or other eligible account owners (each,  including Centurion,
an  "Account  Owner"),  all  monies  due  or to  become  due in  payment  of the
Receivables,  all  proceeds  of  such  Receivables  and any  Series  Enhancement
provided  for  any  particular   Series  or  class  of   Certificates.   "Series
Enhancement"  may include,  with respect to any Series or class of Certificates,
the  subordination  of one or more classes or Series of  Certificates  to one or
more  other  classes  or Series of  Certificates,  a letter  of  credit,  a cash
collateral  guaranty,  a cash  collateral  account,  a surety bond, a collateral
interest,  a spread account,  a guaranteed rate agreement,  a maturity liquidity
facility, a tax protection agreement or an insurance policy.

         The  Receivables  that, to date,  have been conveyed to the Trust arise
from Accounts selected from Centurion's portfolio and consist of amounts charged
or  otherwise  borrowed  by  Account  holders  for goods and  services  and cash
advances ("Principal  Receivables"),  plus the related periodic finance charges,
amounts  charged to Accounts in respect of late charges and certain  other items
(the "Finance Charge Receivables").

         No Originator or Account Owner will act as a guarantor  with respect to
any payments on the Certificates, and neither the Trustee nor the holders of the
Certificates  will have general recourse against any Originator or Account Owner
or the assets of any Originator or Account Owner. Instead, the Trustee's and the
Certificateholders' only recourse in any action seeking to collect amounts owing
under the Certificates will be against, and limited to, the Trust Assets.

         Each Series of Investor  Certificates will belong to a certain group of
Series (each, a "Group"). The Series included in a particular Group will share a
common  distribution  date and other terms,  and certain cash collections may be
allocated among the Series within a Group (any Group for which  collections will
be so allocated  is  hereinafter  referred to as a  "Reallocation  Group").  The
Agreement and  Supplements  govern the  allocation of  collections in respect of
Principal  Receivables and Finance Charge  Receivables  between the interests of
the  transferors  and the  Investor  Certificateholders  and,  for the  Investor
Certificateholders,  to each Group,  based generally on the sum of the principal
amounts of Investor  Certificates for all Series in all Groups.  Each Supplement
will prescribe the manner in which collections will be allocated among Series.



                                - 1 -
<PAGE>

         Each Group may have a certain  number of Series which will share,  to a
limited extent, the collections in respect of Principal  Receivables and Finance
Charge  Receivables  allocated  to  such  Group.  In  addition,  certain  excess
collections of Principal Receivables ("Shared Principal Collections") or Finance
Charge Receivables ("Excess Finance Charge  Collections")  allocated to a Series
in one Group that are not  required to make  distributions  with  respect to the
Certificates  of the  Series  in such  Group may be  shared  with the  Series in
another Group (each such Series is hereinafter referred to,  respectively,  as a
"Principal Sharing Series" and an "Excess Allocation Series").  For each Series,
the  Supplement  relating  to such  Series  will  govern the terms and timing of
payment  of  interest  and  principal  and the  allocations  of  collections  of
Principal  Receivables and Finance Charge  Receivables  among the various Series
within such Series' Group and among Series in a different Group.

         The Trust will not engage in any business activity other than acquiring
and holding the Trust Assets, issuing Certificates,  making payments thereon and
related activities.  Pursuant to the Agreement,  the Trustee will hold the Trust
Assets in trust for the benefit of the holders of the  Certificates,  and TRS or
any  successor  servicer,   as  the  Servicer,   will  be  responsible  for  the
administration and servicing of the Receivables. The Trust has issued 22 classes
of Investor Certificates:

         .  Class A Series  1996-1  6.80% Asset  Backed  Certificates  and Class
            B Series  1996-1  6.95%  Asset  Backed  Certificates  (collectively,
            the "Series 1996-1 Certificates");

         .  Class A Series  1997-1  6.40% Asset  Backed  Certificates  and Class
            B Series  1997-1  6.55%  Asset  Backed  Certificates  (collectively,
            the "Series 1997-1 Certificates");

         .  Class A Series 1998-1  Floating  Rate Asset Backed  Certificates and
            Class B Series  1998-1  Floating  Rate  Asset  Backed   Certificates
            (collectively, the "Series 1998-1 Certificates");

         .  On April 21, 1999,  the Trust  issued  Class A Series  1999-1  5.60%
            Asset  Backed   Certificates   and   Class  B  Series  1999-1  5.85%
            Asset  Backed  Certificates   (collectively,   the   "Series 1999-1
            Certificates").  Interest on the Series 1999-1 Certificates  accrues
            from  April 21, 1999  and  is  payable  on  May 17, 1999, and on the
            fifteenth day of each month  thereafter - which  is  a  Distribution
            Date.  Principal  with  respect  to the  Series  1999-1 Certificates
            is  scheduled  to  be  distributed on  the  April 2004  Distribution
            Date, but  may  be  paid  earlier  or  later  under certain  limited
            circumstances;

         .  On May 19, 1999, the Trust issued Class A Series  1999-2 5.95% Asset
            Backed Certificates and Class B Series  1999-2  6.10%  Asset  Backed
            Certificates (collectively,   the  "Series  1999-2   Certificates").
            Interest on the Series 1999-2 Certificates accrues from May 19, 1999
            and is payable on June 15, 1999,  and on the  fifteenth  day of each
            month thereafter - which is the Distribution  Date.  Principal  with
            respect  to  the  Series  1999-2   Certificates  is  scheduled to be
            distributed  on  the  May 2004  Distribution  Date,  but may be paid
            earlier or later under certain limited circumstances;

         .  On  May 19, 1999,  the Trust  issued  Class A Series 1999-3 Floating
            Rate  Asset  Backed  Certificates,  bearing a  certificate  rate  of
            0.14% per  annum  above  one month LIBOR,  and Class B Series 1999-3
            Floating  Rate  Asset  Backed  Certificates,  bearing a  certificate
            rate of 0.34% per annum  above  one  month  LIBOR (collectively, the
            "Series  1999-3  Certificates").  Interest  on  the  Series  1999-3
            Certificates  accrues  from  May 19, 1999 and is payable on June 15,
            1999 and  on the fifteenth day of  each  month  thereafter  -  which
            is the  Distribution  Date.  Principal with respect  to  the  Series
            1999-3  Certificates  is scheduled to be distributed on the May 2004
            Distribution  Date, but may be  paid  earlier or later under certain
            limited circumstances;

         .  On August 17, 1999, the Trust issued Class A Series 1999-4  Floating
            Rate Asset Backed Certificates, bearing a certificate  rate of 0.17%
            per annum above one month LIBOR,  and Class B Series 1999-4 Floating
            Rate Asset Backed  Certificates, bearing a certificate rate of 0.42%
            per  annum   above   one   month   LIBOR  (collectively, the "Series
            1999-4 Certificates").  Interest  on  the Series 1999-4 Certificates
            accrues  from  August  17,  1999 and is  payable  on  September  15,
            1999 and on the fifteenth  day of each month  thereafter  - which is
            the Distribution Date.  Principal with respect to the Series  1999-4
            Certificates  is  scheduled  to  be  distributed  on  the  July 2002
            Distribution  Date,  but  may be paid earlier or later under certain
            limited circumstances;

                                        - 2 -

<PAGE>


         .  On August 17, 1999,  the Trust issued Class A Series 1999-5 Floating
            Rate Asset Backed Certificates, bearing a certificate  rate of 0.24%
            per annum above one month LIBOR,  and Class B Series 1999-5 Floating
            Rate Asset Backed Certificates, bearing a certificate  rate of 0.48%
            per annum above one month LIBOR (collectively,  the  "Series  1999-5
            Certificates").  Interest on  the Series 1999-5 Certificates accrues
            from   August  17,  1999  and  is  payable  on  September  15,  1999
            and on the  fifteenth  day of each month  thereafter  - which is the
            Distribution Date.   Principal  with  respect to  the Series  1999-5
            Certificates  is  scheduled  to  be  distributed on  the  July  2004
            Distribution  Date, but  may  be paid earlier or later under certain
            limited circumstances;

         .  On  September 16, 1999,  the  Trust  issued  Class A  Series  1999-6
            Floating  Rate  Asset  Backed  Certificates,  bearing  a certificate
            rate of 0.20% per  annum  above one month LIBOR,  and Class B Series
            1999-6   Floating   Rate  Asset  Backed  Certificates,   bearing  a
            certificate  rate  of  0.43%  per  annum  above   one   month  LIBOR
            (collectively,    the    "Series  1999-6   Certificates").  Interest
            on   the  Series   1999-6  Certificates  accrues from  September 16,
            1999 and is payable on  October 15, 1999 and on the fifteenth day of
            each  month  thereafter - which is the Distribution Date.  Principal
            with  respect  to the Series 1999-6 Certificates is scheduled  to be
            distributed on  the  August 2002 Distribution Date, but  may be paid
            earlier or later  under  certain limited circumstances;

         .  On  February 16, 2000,  the  Trust  issued  Class  A   Series 2000-1
            7.20% Asset Backed  Certificates  and  Class B Series  2000-1  7.40%
            Asset  Backed  Certificates  (collectively,   the   "Series   2000-1
            Certificates").    Interest   on   the  Series  2000-1  Certificates
            accrues from  February 16, 2000 and is  payable  on  March 15, 2000,
            and on the  fifteenth  day  of  each month thereafter - which is the
            Distribution Date.  Principal  with  respect  to  the  Series 2000-1
            Certificates is  scheduled  to  be  distributed on the February 2005
            Distribution  Date, but may be   paid   earlier   or   later   under
            certain limited circumstances;

         .  On  February 16, 2000,  the  Trust  issued  Class  A  Series  2000-2
            Floating  Rate  Asset  Backed  Certificates,  bearing  a certificate
            rate of 0.165% per annum above one month  LIBOR,  and Class B Series
            2000-2  Floating   Rate   Asset  Backed   Certificates,   bearing  a
            certificate  rate   of  0.350%  per  annum  above  one  month  LIBOR
            (collectively, the  "Series  2000-2 Certificates").  Interest on the
            Series 2000-2  Certificates  accrues  from  February 16, 2000 and is
            payable on March 15, 2000 and on  the fifteenth day  of  each  month
            thereafter  -  which  is  the  Distribution  Date.   Principal  with
            respect  to  the  Series 2000-2  Certificates  is  scheduled  to  be
            distributed  on  the  February 2005  Distribution  Date, but  may be
            paid earlier or later under certain limited circumstances.

         Information  concerning  the  performance  of the Trust Assets for each
monthly  due  period of the Trust is  contained  in monthly  Servicer's  reports
provided  to the  Trustee  and  filed  monthly  on  Form  8-K,  and  information
concerning  distributions  made on the  Investor  Certificates  is  contained in
payment date statements prepared by the Servicer and also filed on Form 8-K. The
Servicer has  prepared a report that sets forth,  with respect to certain of the
items  reported  on monthly in the monthly  Servicer's  reports,  the  aggregate
amount of such  items for the full year 1999 or, as  applicable,  the  amount of
such items as of December 24, 1999.  This  annual  report is filed  herewith  as
Exhibit 99.3.


Item 2.  Properties.

         See Exhibit 99.3.


Item 3.  Legal Proceedings.

         The  Registrant  knows of no material  pending legal  proceedings  with
respect to the Trust,  involving the Trust, the Trustee,  the  Trust Assets, the
Servicer  or  the  Originators,   exclusive  of  ordinary   routine   litigation
incidental  to  the  Trustee's,  Originators'  or  Servicer's  duties  under the
Agreement.


Item 4.  Submission of Matters to a Vote of Security Holders.

         None.


                                        - 3 -
<PAGE>

                                     PART II

Item 5.  Market for Registrant's Common Equity and Related Stockholder Matters.

         (a) To the best  knowledge of the  Registrant,  there is no established
             public trading market for the Investor Certificates.

         (b) The Investor Certificates,  representing  investor's  interests  in
             the  Trust,  were   delivered  in  book-entry   form   through  the
             facilities of the  Depository Trust Company ("DTC") and the nominee
             for DTC, Cede & Co.,  is the sole registered holder of the Investor
             Certificates.

         (c) Not applicable.


Item 6.  Selected Financial Data.

         Not applicable.


Item 7.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations.

         Not applicable.


Item 7a. Quantitative and Qualitative Disclosures About Market Risk.

         Not applicable.


Item 8.  Financial Statements and Supplementary Data.

         See Exhibit 99.3.


Item 9.  Changes  in  and  Disagreements  with  Accountants  on  Accounting  and
         Financial Disclosure.

         None.


                                    PART III

Item 10. Directors and Executive Officers of the Registrant.

         Not applicable.


Item 11. Executive Compensation.

         Not applicable.









                                        - 4 -
<PAGE>


Item 12. Security Ownership of Certain Beneficial Owners and Management.

         (a)  The  Investor  Certificates  were  delivered  in  book-entry  form
              through  the  facilities of  DTC.  As a consequence,  the  nominee
              for  DTC,  Cede & Co., is  the  sole registered holder of Investor
              Certificates.  An  investor  holding  an  interest in the Trust is
              not entitled to receive a certificate representing  such  interest
              except in limited  circumstances.  Cede & Co. holds  the  Investor
              Certificate   on   behalf  of  brokers,  dealers,  banks and other
              direct participants in  the  DTC  system.   DTC  participants  may
              own  Investor  Certificates for their own account or hold them for
              the  accounts of their  customers.  As  of  February 9,  2000  the
              following  direct  DTC  participants  held positions  in  Investor
              Certificates  representing  interests  in  the  Trust equal to  or
              exceeding  5% of  the  total  principal  amount  of  the  Investor
              Certificates  of  each  class  of each  Series outstanding on that
              date:

              <TABLE>
              <CAPTION>
                                     Principal Amount
              Name                    of Certificates          Percent of Class
              ----                   ----------------          ----------------
              <S>                      <C>                            <C>
              CLASS A SERIES 1996-1
              6.80% ASSET BACKED
              CERTIFICATES:

              Bank of New York          $63,250,000                    7.3%

              Bankers Trust
                Company                 $77,648,000                    8.9%

              Boston Safe Deposit
                and Trust Company       $90,735,000                   10.5%

              Bank of Tokyo -
                Mitsubishi Trust
                Company                 $80,000,000                    9.2%

              Chase Manhattan Bank     $210,989,000                   24.4%

              State Street Bank
                and Trust Company       $91,070,000                   10.5%



              CLASS B SERIES 1996-1
              6.95% ASSET BACKED
              CERTIFICATES:

              Bank of New York           $5,100,000                    8.5%

              Bankers Trust
                Company                  $4,250,000                    7.1%

              Boston Safe Deposit
                and Trust Company        $3,350,000                    5.6%

              Chase Manhattan Bank      $34,000,000                   56.7%

              Commerce Bank of
                Kansas City              $4,750,000                    7.9%

              </TABLE>












                                        - 5 -
<PAGE>
              <TABLE>
              <CAPTION>
                                     Principal Amount
              Name                    of Certificates          Percent of Class
              ----                   ----------------          ----------------
              <S>                      <C>                            <C>
              CLASS A SERIES 1997-1
              6.40% ASSET BACKED
              CERTIFICATES:

              Bank of New York          $85,485,000                    9.9%

              Bankers Trust Company    $118,638,000                   13.7%

              Chase Manhattan Bank     $269,455,000                   31.1%

              Citibank, N.A.            $63,015,000                    7.3%

              State Street Bank
                and Trust Company       $60,315,000                    7.0%



              CLASS B SERIES 1997-1
              6.55% ASSET BACKED
              CERTIFICATES:

              Bank of New York          $14,000,000                   23.3%

              Chase Manhattan Bank      $13,900,000                   23.1%

              Citibank, N.A.            $13,300,000                   22.1%

              State Street Bank
                and Trust Company       $15,000,000                   25.0%



              CLASS A SERIES 1998-1
              FLOATING RATE ASSET
              BACKED CERTIFICATES:

              Bank of New York          $55,000,000                    6.7%

              Bankers Trust Company    $148,750,000                   18.0%

              Boston Safe Deposit
                and Trust Company      $137,000,000                   16.6%

              Chase Manhattan Bank     $210,800,000                   25.6%

              Citibank, N.A.           $195,000,000                   23.6%



              CLASS B SERIES 1998-1
              FLOATING RATE ASSET
              BACKED CERTIFICATES:

              Bankers Trust Company     $68,000,000                   85.0%

              Citibank, N.A.            $12,000,000                   15.0%

              </TABLE>









                                        - 6 -
<PAGE>

              <TABLE>
              <CAPTION>
                                     Principal Amount
              Name                    of Certificates          Percent of Class
              ----                   ----------------          ----------------
              <S>                      <C>                            <C>
              CLASS A SERIES 1999-1
              5.60% ASSET BACKED
              CERTIFICATES:

              Bank of New York          $46,675,000                    5.4%

              Bankers Trust Company    $135,650,000                   15.7%

              Bank One Trust Company,
                N.A./Public Employee
                Retirement              $55,000,000                    6.4%

              Chase Manhattan Bank     $209,515,000                   24.2%



              CLASS B SERIES 1999-1
              5.85% ASSET BACKED
              CERTIFICATES:

              Chase Manhattan Bank      $18,000,000                   30.0%

              First Union National
                Bank                    $25,000,000                   41.7%

              State Street Bank
                and Trust Company       $14,500,000                   24.2%



              CLASS A SERIES 1999-2
              5.95% ASSET BACKED
              CERTIFICATES:

              Bank of New York          $45,650,000                   10.6%

              Bankers Trust Company     $69,432,000                   16.1%

              Boston Safe Deposit
                and Trust Company       $65,670,000                   15.2%

              State Street Bank
                Trust Custody           $22,000,000                    5.1%

              State Street Bank
                and Trust Company      $164,574,000                   38.1%



              CLASS B SERIES 1999-2
              6.10% ASSET BACKED
              CERTIFICATES:

              Bank of New York           $9,800,000                   32.7%

              Brown Brothers
                Harriman & Co.           $4,200,000                   14.0%

              Chase Manhattan Bank      $16,000,000                   53.3%

              </TABLE>









                                        - 7 -


<PAGE>

              <TABLE>
              <CAPTION>
                                     Principal Amount
              Name                    of Certificates          Percent of Class
              ----                   ----------------          ----------------
              <S>                      <C>                            <C>
              CLASS A SERIES 1999-3
              FLOATING RATE ASSET
              BACKED CERTIFICATES:

              Bankers Trust Company    $470,000,000                   56.9%

              Boston Safe Deposit
                and Trust Company       $80,000,000                    9.7%

              Citibank, N.A.            $50,000,000                    6.1%

              State Street Bank
                and Trust Company      $192,000,000                   23.3%



              CLASS B SERIES 1999-3
              FLOATING RATE ASSET
              BACKED CERTIFICATES:

              Bankers Trust Company     $45,000,000                   56.2%

              Bank One Trust Company,
                N.A.                    $25,000,000                   31.3%

              Chase Manhattan Bank      $10,000,000                   12.5%



              CLASS A SERIES 1999-4
              FLOATING RATE ASSET
              BACKED CERTIFICATES:

              Bank of New York          $32,500,000                    7.9%

              Boston Safe Deposit
                and Trust Company       $72,500,000                   17.6%

              Chase Manhattan Bank      $61,850,000                   15.0%

              Chase Manhattan Bank/
                Broker & Dealer
                Clearance Dept.         $22,000,000                    5.3%

              Deutsche Bank
                Securities Inc.         $40,000,000                    9.7%

              The Northern Trust
                Company                $127,000,000                   30.8%



              CLASS B SERIES 1999-4
              FLOATING RATE ASSET
              BACKED CERTIFICATES:

              Bank One Trust Company,
                N.A.                    $30,000,000                   75.0%

              Chase Manhattan Bank      $10,000,000                   25.0%

              </TABLE>








                                        - 8 -
<PAGE>
              <TABLE>
              <CAPTION>
                                     Principal Amount
              Name                    of Certificates          Percent of Class
              ----                   ----------------          ----------------
              <S>                      <C>                            <C>
              CLASS A SERIES 1999-5
              FLOATING RATE ASSET
              BACKED CERTIFICATES:

              Chase Manhattan Bank      $36,000,000                    8.7%

              Citibank, N.A.            $66,600,000                   16.1%

              Investors Bank and
                Trust/M.F. Custody      $25,000,000                    6.1%

              State Street Bank
                and Trust Company      $258,000,000                   62.5%



              CLASS B SERIES 1999-5
              FLOATING RATE ASSET
              BACKED CERTIFICATES:

              Chase Manhattan Bank      $20,000,000                   50.0%

              Fuji Bank and Trust
                Company                 $20,000,000                   50.0%



              CLASS A SERIES 1999-6
              FLOATING RATE ASSET
              BACKED CERTIFICATES:

              Bankers Trust Company     $24,000,000                    5.8%

              Brown Brothers
                Harriman & Co.          $22,100,000                    5.4%

              Citibank, N.A.            $90,000,000                   21.8%

              Deutsche Bank A.G.,
                New York Branch         $42,000,000                   10.2%

              The Northern Trust
                Company                $130,000,000                   31.5%

              State Street Bank
                and Trust Company       $61,000,000                   14.8%



              CLASS B SERIES 1999-6
              FLOATING RATE ASSET
              BACKED CERTIFICATES:

              Chase Manhattan Bank      $15,000,000                   37.5%

              Citibank, N.A.            $25,000,000                   62.5%

              </TABLE>








                                        - 9 -
<PAGE>

              The address of each of the above participants is:

              c/o The Depository Trust Company
              55 Water Street
              New York, New York  10041

         (b)  Not applicable.

         (c)  Not applicable.


Item 13. Certain Relationships and Related Transactions.

         The Bank of New York acts as Trustee under the Agreement.


                                     PART IV

Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.

         (a)  Financial Statements:

              1.  Annual Servicing Statement Delivered  to the Trustee (filed as
                  Exhibit 99.1).

              2.  Annual Accountant's  Report  of  Ernst & Young LLP  (filed  as
                  Exhibit 99.2).

              3.  Annual Report containing Aggregate  Information for the Fiscal
                  Year (filed as Exhibit 99.3).

         (b)  Reports on Form 8-K:

              The  Trust has filed  the  following  reports  on  Form 8-K  since
              March 31, 1999:

              1.  Form 8-K,  dated  April 12, 1999,  attaching  the Series Term
                  Sheet,  dated  April 12,  1999,  setting  forth the  proposed
                  issuance of  the Class A 5.60% Asset Backed  Certificates and
                  the  Class B 5.85% Asset Backed  Certificates of the American
                  Express Credit Account Master Trust, Series 1999-1.

              2.  Form  8-K,  dated  April  15,  1999,  attaching   the  Monthly
                  Servicer's  Certificate for  the due  period February 25, 1999
                  through March 26, 1999.

              3.  Form  8-K,  dated   May  17,  1999,   attaching   the  Monthly
                  Servicer's  Certificate  for  the  due period  March 27,  1999
                  through April 25, 1999.

              4.  Form  8-K,  dated   June  15,  1999,  attaching   the  Monthly
                  Servicer's  Certificate  for  the  due period  April 26,  1999
                  through May 25, 1999.

              5.  Form  8-K,  dated  July  15,  1999,   attaching   the  Monthly
                  Servicer's  Certificate  for   the  due  period  May 26,  1999
                  through June 25, 1999.

              6.  Form 8-K,  dated  August 2, 1999,  attaching  the  Series Term
                  Sheet,  dated  August 2, 1999,  setting   forth  the  proposed
                  issuance  of   the   Class  A  Floating   Rate  Asset   Backed
                  Certificates  and  the  Class B  Floating  Rate  Asset  Backed
                  Certificates  of  the  American  Express Credit Account Master
                  Trust, Series 1999-4.

              7.  Form 8-K,  dated  August 2, 1999,  attaching  the  Series Term
                  Sheet,  dated  August 2, 1999,   setting  forth  the  proposed
                  issuance  of   the   Class  A  Floating   Rate  Asset   Backed
                  Certificates  and  the  Class B  Floating  Rate  Asset  Backed
                  Certificates  of  the  American  Express Credit Account Master
                  Trust, Series 1999-5.






                                        - 10 -
<PAGE>




               8. Form 8-K,  dated   August 16,  1999,  attaching   the  Monthly
                  Servicer's  Certificate  for  the  due  period  June 26,  1999
                  through July 25, 1999.

               9. Form 8-K, dated  September 1, 1999,  attaching  Assignment No.
                  3  of  Receivables  in   Additional  Accounts,  dated   as  of
                  September 13, 1999, among  American  Express  Centurion  Bank,
                  American  Express  Receivables  Financing  Corporation  II and
                  The  Bank  of New York,  and also  attaching the  Supplemental
                  Conveyance, dated  as  of September 13, 1999, between American
                  Express  Receivables  Financing  Corporation II  and  American
                  Express Credit Corporation.

              10. Form  8-K,  dated September 7, 1999, attaching the Series Term
                  Sheet,  dated  September 7, 1999,  setting  forth the proposed
                  issuance   of   the  Class  A  Floating   Rate  Asset   Backed
                  Certificates  and  the  Class B  Floating  Rate  Asset  Backed
                  Certificates  of  the  American  Express Credit Account Master
                  Trust, Series 1999-6.

              11. Form  8-K,  dated  September 15, 1999,  attaching  the Monthly
                  Servicer's  Certificate  for  the  due  period  July 26,  1999
                  through August 24, 1999.

              12. Form  8-K,  dated  October 15,  1999,  attaching  the  Monthly
                  Servicer's  Certificate  for  the  due period  August 25, 1999
                  through September 24, 1999.

              13. Form  8-K,  dated  November 15, 1999,  attaching  the  Monthly
                  Servicer's  Certificate for  the due period September 24, 1999
                  through October 24, 1999.

              14. Form  8-K,  dated  December 15, 1999,  attaching  the  Monthly
                  Servicer's  Certificate  for  the  due period October 25, 1999
                  through November 24, 1999.

              15. Form  8-K,  dated  January 18,  2000,  attaching  the  Monthly
                  Servicer's  Certificate for  the  due period November 25, 1999
                  through December 24, 1999.

              16. Form  8-K, dated February 2, 2000,  attaching the  Series Term
                  Sheet,  dated  February 2, 2000, setting  forth  the  proposed
                  issuance  of  the Class A 7.20% Asset Backed  Certificates and
                  the  Class B 7.40% Asset  Backed  Certificates of the American
                  Express  Credit  Account Master Trust, Series 2000-1, and also
                  attaching  the  Series  Term  Sheet,  dated  February 2, 2000,
                  setting   forth   the   proposed   issuance  of  the  Class  A
                  Floating  Rate  Asset   Backed  Certificates  and the  Class B
                  Floating  Rate  Asset  Backed  Certificates  of  the  American
                  Express Credit Account Master Trust, Series 2000-2.

              17. Form  8-K,  dated  February 15, 2000,  attaching  the  Monthly
                  Servicer's  Certificate  for  the due period December 25, 1999
                  through January 25, 2000.

              18. Form 8 -K,  dated  February  16, 2000,  attaching  the  Series
                  2000-1   Supplement,   dated   as   of  February   16,  2000,
                  supplementing  the Pooling and Servicing  Agreement  dated  as
                  of  May 16,  1996,  and  also  attaching   the  Series  2000-2
                  Supplement, dated as of February 16, 2000,  supplementing  the
                  Pooling and Servicing Agreement dated as of May 16, 1996.

              19. Form  8-K,  dated   March 15,  2000,  attaching   the  Monthly
                  Servicer's  Certificate  for  the  due period January 26, 2000
                  through February 24, 2000.

         (c)  Exhibits:

              4.1 Pooling  and  Servicing  Agreement,  dated  as of May 16, 1996
                  (incorporated  by  reference  to Exhibit 4.1 of Form 8-A filed
                  by registrant on May 30, 1996, File No. 000-20787).

              4.2 Series  1996-1  Supplement   to   the  Pooling  and  Servicing
                  Agreement,  dated   as  of   May  16,  1996  (incorporated  by
                  reference  to  Exhibit 4.2 of Form 8-A filed by  registrant on
                  May 30, 1996, File No. 000-20787).



                                        - 11 -
<PAGE>

              4.3 Supplemental  Assumption  Agreement,  dated  as  of  June  27,
                  1996,  between  American Express Centurion Bank, as  Assignor,
                  and  American Express Deposit Corporation,  as  Assignee, with
                  respect  to  the Pooling and Servicing Agreement Governing the
                  American  Express  Credit  Account Master Trust  (incorporated
                  by  reference  to Exhibit 4.3 of Form 8-K filed by  registrant
                  on July 16, 1996, File No. 000-20787).

              4.4 Series  1997-1  Supplement  to   the   Pooling  and  Servicing
                  Agreement,  dated  as  of August  28,  1997  (incorporated  by
                  reference  to  Exhibit 4.2 of Form 8A-12G dated  September 16,
                  1997, File Nos. 000-20787-01 and 000-20787-00).

              4.5 Assignment  No. 1  of   Receivables  in  Additional  Accounts,
                  dated  as  of August 7, 1997,  by and among  American  Express
                  Centurion Bank  and  American  Express  Receivables  Financing
                  Corporation II,  as  transferors, and The Bank of New York, as
                  trustee  (incorporated  by  reference  to Exhibit 20.2 of Form
                  8-K   dated   August  15, 1997,  File  Nos.  000-20787-01  and
                  000-20787-00).

              4.6 Supplemental  Conveyance  No. 1, dated  as  of August 7, 1997,
                  by   and   between  American  Express  Credit  Corporation  as
                  seller,    and    American   Express   Receivables   Financing
                  Corporation  II,  as  purchaser (incorporated  by reference to
                  Exhibit 20.3  of  Form 8-K dated  August 15,  1997,  File Nos.
                  000-20787-01 and 000-20787-00).

              4.7 Series  1998-1   Supplement   to  the  Pooling  and  Servicing
                  Agreement,  dated  as   of  June  23,  1998  (incorporated  by
                  reference  to  Exhibit  4.1  of Form 8-K dated July 15,  1998,
                  File Nos. 000-20787-01 and 000-20787-00).

              4.8 Series  1999-1   Supplement  to   the  Pooling  and  Servicing
                  Agreement,  dated  as  of  April  21,  1999  (incorporated  by
                  reference  to  Exhibit  4.2  of Form  8A-12G  dated  April 21,
                  1999, File Nos. 000-20787-01 and 000-20787-00).

              4.9 Series  1999-2   Supplement  to   the  Pooling  and  Servicing
                  Agreement,  dated   as  of  May  19,  1999  (incorporated   by
                  reference  to  Exhibit 4.2  of Form 8A-12G dated May 19, 1999,
                  File Nos. 000-20787-01 and 000-20787-00).

             4.10 Series  1999-3   Supplement   to  the  Pooling  and  Servicing
                  Agreement,  dated   as  of   May  19,  1999  (incorporated  by
                  reference  to  Exhibit 4.3  of Form 8A-12G dated May 19, 1999,
                  File Nos. 000-20787-01 and 000-20787-00).

             4.11 Series  1999-4  Supplement   to   the  Pooling  and  Servicing
                  Agreement,  dated  as  of August  17,  1999  (incorporated  by
                  reference  to  Exhibit  4.2  of Form 8A-12G  dated  August 17,
                  1999, File Nos. 000-20787-01 and 000-20787-00).

             4.12 Series  1999-5  Supplement   to   the  Pooling  and  Servicing
                  Agreement,  dated  as  of August  17,  1999  (incorporated  by
                  reference  to Exhibit  4.3  of  Form 8A-12G  dated  August 17,
                  1999, File Nos. 000-20787-01 and 000-20787-00).

             4.13 Assignment  No. 3  of   Receivables  in  Additional  Accounts,
                  dated  as  of  September  13,  1999,  by  and  among  American
                  Express  Centurion  Bank  and   American  Express  Receivables
                  Financing  Corporation  II,  as  transferors,  and The Bank of
                  New York,  as  trustee  (incorporated  by reference to Exhibit
                  99.1   of   Form  8-K   dated  September  1,  1999 (File  Nos.
                  000-20787-01 and 000-20787-00).

             4.14 Supplemental  Conveyance,  dated  as of September 13, 1999, by
                  and  between  American Express Credit Corporation,  as seller,
                  and  American Express  Receivables  Financing  Corporation II,
                  as  purchaser  (incorporated  by  reference to Exhibit 99.2 of
                  Form 8-K  dated  September 1, 1999 (File Nos. 000-20787-01 and
                  000-20787-00).

             4.15 Series  1999-6  Supplement   to   the  Pooling  and  Servicing
                  Agreement,  dated  as  of September 16, 1999  (incorporated by
                  reference  to  Exhibit 4.2 of Form 8A-12G dated  September 16,
                  1999, File Nos. 000-20787-01 and 000-20787-00).



                                        - 12 -
<PAGE>


            10.1 Form of RFC II Purchase  Agreement  (incorporated  by reference
                 to Exhibit 10.1 of  Registration  Statement on Form  S-3, filed
                 March 6, 1996, File No. 33-95784).

            24.1 Power of Attorney for American Express Centurion Bank.

            24.2 Power of Attorney for  American  Express  Receivables Financing
                 Corporation II.

            99.1 Annual Servicing Statement Delivered to the Trustee.

            99.2 Annual Accountant's Report of Ernst & Young LLP.

            99.3 Annual Report Containing Aggregated Information for  the Fiscal
                 Year.

























                                               - 13 -
<PAGE>




                                   SIGNATURES

         Pursuant to the  requirements  of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

                             AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST

                             AMERICAN EXPRESS CENTURION BANK,
                             Co-originator of the Trust and Registrant

                             By:  /s/ Rhonda Halpern
                                 -------------------------------------
                                 Rhonda Halpern
                                 Chief Financial Officer,
                                 Treasurer and Chief Compliance Officer




         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
this  report  has  been  signed  by the  following  persons  in  the  capacities
indicated.



Signature                                    Title

       *
------------------------
Frank L. Skillern                            Director and Chairman

       *
------------------------
David E. Poulsen                             Director, President and
                                             Chief Executive Officer
       *
------------------------
Gilbert E. Ahye                              Director


------------------------
Maria J. Garciaz                             Director

       *
------------------------
Ash Gupta                                    Director


------------------------
Peter A. Lefferts                            Director

       *
------------------------
Raymond F. Pettit                            Director

       *
------------------------
Roslyn M. Watson                             Director

       *
------------------------
James F. Welch                               Director


*By:  /s/ Robert D. Kraus
      -------------------
      Robert D. Kraus
      Attorney-in-Fact


Dated:  March 29, 2000






                                        - 14 -

<PAGE>




                                   SIGNATURES

         Pursuant to the  requirements  of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

                           AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST


                           AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION II
                           Co-originator of the Trust and Registrant


                           By:  /s/ Leslie R. Scharfstein
                               -------------------------------------
                               Leslie R. Scharfstein
                               President




         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
this  report  has  been  signed  by the  following  persons  in  the  capacities
indicated.

Signature                         Title

           *
---------------------------
John D. Koslow                    Director


           *
----------------------------
Donald J. Puglisi                 Director


           *
----------------------------
Jay B. Stevelman                  Director


           *
----------------------------
Leslie R. Scharfstein             President
                                  (Principal Executive Officer)

           *
----------------------------
Ellen J. Casey                    Vice President and Treasurer
                                  (Principal Finance Officer and
                                  Principal Accounting Officer)

*By:  /s/ Leslie R. Scharfstein
     --------------------------
     Leslie R. Scharfstein
     Attorney-in-Fact




Dated:  March 29, 2000











                                        - 15 -
<PAGE>


                                  EXHIBIT INDEX

The  following  exhibits  are  filed as part of this  Annual  Report  or,  where
indicated,  were  heretofore  filed and are  hereby  incorporated  by  reference
(*indicates exhibits electronically filed herewith).


4.1   Pooling and Servicing Agreement, dated as of May 16, 1996 (incorporated by
      reference to Exhibit 4.1 of Form 8-A filed by registrant  on May 30, 1996,
      File No. 000-20787).

4.2   Series 1996-1 Supplement to the Pooling and Servicing  Agreement, dated as
      of  May 16, 1996  (incorporated  by  reference  to Exhibit 4.2 of Form 8-A
      filed by registrant on May 30, 1996, File No. 000-20787).

4.3   Supplemental  Assumption  Agreement,  dated  as of June 27, 1996,  between
      American Express Centurion Bank, as Assignor, and American Express Deposit
      Corporation, as  Assignee,  with  respect  to the  Pooling  and  Servicing
      Agreement Governing  the  American  Express  Credit  Account  Master Trust
      (incorporated  by reference to Exhibit 4.3 of Form 8-K filed by registrant
      on July 16, 1996, File No. 000-20787).

4.4   Series 1997-1 Supplement to the Pooling and Servicing  Agreement, dated as
      of  August 28, 1997  (incorporated  by  reference  to  Exhibit 4.2 of Form
      8A-12G dated September 16, 1997, File Nos. 000-20787-01 and 000-20787-00).

4.5   Assignment No. 1 of Receivables in Additional Accounts, dated as of August
      7, 1997, by and among American Express Centurion Bank and American Express
      Receivables Financing Corporation II, as transferors,  and The Bank of New
      York, as trustee  (incorporated  by  reference to Exhibit 20.2 of Form 8-K
      dated August 15, 1997, File Nos. 000-20787-01 and 000-20787-00).

4.6   Supplemental Conveyance  No. 1, dated as of August 7, 1997, by and between
      American Express  Credit  Corporation  as  seller,  and  American  Express
      Receivables  Financing  Corporation  II,  as  purchaser  (incorporated  by
      reference to Exhibit  20.3 of Form 8-K dated  August 15,  1997,  File Nos.
      000-20787-01 and 000-20787-00).

4.7   Series 1998-1 Supplement to the Pooling and Servicing  Agreement, dated as
      of June 23, 1998  (incorporated  by  reference  to Exhibit 4.1 of Form 8-K
      dated July 15, 1998, File Nos. 000-20787-01 and 000-20787-00).

4.8   Series 1999-1 Supplement to the Pooling and Servicing Agreement,  dated as
      of April 21, 1999 (incorporated by reference to Exhibit 4.2 of Form 8A-12G
      dated April 21, 1999, File Nos. 000-20787-01 and 000-20787-00).

4.9   Series 1999-2 Supplement to the Pooling and Servicing  Agreement, dated as
      of May 19, 1999 (incorporated  by  reference to Exhibit 4.2 of Form 8A-12G
      dated May 19, 1999, File Nos. 000-20787-01 and 000-20787-00).

4.10  Series 1999-3 Supplement to the Pooling and Servicing Agreement,  dated as
      of May 19, 1999 (incorporated  by  reference to Exhibit 4.3 of Form 8A-12G
      dated May 19, 1999, File Nos. 000-20787-01 and 000-20787-00).

4.11  Series 1999-4 Supplement to the Pooling and Servicing Agreement,  dated as
      of  August 17, 1999  (incorporated  by  reference  to  Exhibit 4.2 of Form
      8A-12G dated August 17, 1999, File Nos. 000-20787-01 and 000-20787-00).

4.12  Series 1999-5 Supplement to the Pooling and Servicing  Agreement, dated as
      of  August 17, 1999 (incorporated  by  reference  to  Exhibit  4.3 of Form
      8A-12G dated August 17, 1999, File Nos. 000-20787-01 and 000-20787-00).

4.13  Assignment No.  3 of  Receivables  in  Additional  Accounts,  dated  as of
      September 13, 1999,  by  and among  American  Express  Centurion  Bank and
      American Express Receivables Financing Corporation II, as transferors, and
      The  Bank  of  New York,  as trustee (incorporated by reference to Exhibit
      99.1 of Form 8-K  dated  September 1,  1999  (File  Nos. 000-20787-01  and
      000-20787-00).




                                        - 16 -
<PAGE>

4.14  Supplemental Conveyance,  dated as of September  13, 1999,  by and between
      American Express  Credit  Corporation,  as seller,  and  American  Express
      Receivables Financing  Corporation  II,  as  purchaser   (incorporated  by
      reference to Exhibit  99.2 of Form 8-K dated  September 1, 1999 (File Nos.
      000-20787-01 and 000-20787-00).

4.15  Series 1999-6 Supplement to the Pooling and Servicing Agreement,  dated as
      of September  16, 1999  (incorporated  by reference to Exhibit 4.2 of Form
      8A-12G dated September 16, 1999, File Nos. 000-20787-01 and 000-20787-00).

10.1  Form of RFC II Purchase Agreement  (incorporated  by  reference to Exhibit
      10.1 of  Registration Statement on Form S-3, filed March 6, 1996, File No.
      33-95784).

24.1* Power of Attorney for American Express Centurion Bank.

24.2* Power of Attorney for American Express  Receivables Financing Corporation
      II.

99.1* Annual Servicing Statement Delivered to the Trustee.

99.2* Annual Accountant's Report of Ernst & Young LLP.

99.3* Annual Report Containing Aggregated Information for the Fiscal Year.






















                                        - 17 -