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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-K
  þ
    
    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the fiscal year ended: December 31, 2009
 or
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For Transition period _________
 Commission File Number of Issuing Entity: 333-130508-01
 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST
 
 AMERICAN EXPRESS 
RECEIVABLES FINANCING 
CORPORATION II
    
    AMERICAN EXPRESS
RECEIVABLES FINANCING
CORPORATION III LLC
    
    AMERICAN EXPRESS
RECEIVABLES FINANCING
CORPORATION IV LLC
  AMERICAN EXPRESS CENTURION BANK
    
    AMERICAN EXPRESS BANK, FSB
  New York
    
    Not Applicable(State or other Jurisdiction of 
Incorporation or Organization 
of the Issuing Entity)
    
    (I.R.S. Employer
Identification Number
of the Issuing Entity)c/o The Bank of New York Mellon
    
    10286Corporate Trust 
101 Barclay Street, 
New York, New York
(Address of the Principal Executive Offices 
of the Issuing Entity)
    
    (Zip Code of the
Issuing Entity)
 (212) 815-6258
    o þ
  o þ
  þ o
 þ
 o o
  Large accelerated filer o
Accelerated filer oNon-accelerated filer þ(Do not check if a smaller reporting company)
Smaller reporting company o  o þ
  DOCUMENTS INCORPORATED BY REFERENCE: NONE




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TABLE OF CONTENTS  PART IItem 1. BusinessItem 1A. Risk Factors.Item 1B. Unresolved Staff Comments.Item 2. Properties.Item 3. Legal Proceedings.Item 4. Submission of Matters to a Vote of Security Holders.Item 1112(b) of Regulation AB: Significant obligors of pool assets (Financial information).Item 1114(b)(2) of Regulation AB: Credit enhancement and other support, except for certain derivatives instruments (Financial information).Item 1115(b) of Regulation AB: Certain derivatives instruments (Financial information).Item 1117 of Regulation AB: Legal proceedingsPART IIItem 5. Market for Registrants Common Equity and Related Stockholder Matters.Item 6. Selected Financial Data.Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations.Item 7A. Quantitative and Qualitative Disclosures About Market Risk.Item 8. Financial Statements and Supplementary Data.Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.Item 9A. Controls and Procedures.Item 9B. Other Information.PART IIIItem 10. Directors and Executive Officers of the Registrants.Item 11. Executive Compensation.Item 12. Security Ownership of Certain Beneficial Owners and Management.Item 13. Certain Relationships and Related Transactions.Item 14. Principal Accountant Fees and Services.Item 1119 of Regulation AB: Affiliations and Certain Relationships and Related Transactions.Item 1122 of Regulation AB: Compliance with Applicable Servicing Criteria.Item 1123 of Regulation AB: Servicer Compliance Statement.PART IVItem 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.SIGNATURESEXHIBIT INDEXEX-31.1EX-31.2EX-31.3EX-33.1EX-33.2EX-33.3EX-34.1EX-34.2EX-34.3EX-35.1EX-35.2EX-35.3EX-35.4EX-35.5    Table of Contents  
 PART I
 The following Items have been omitted in accordance with General Instruction J to Form 10-K:
 
  
   
 Item 1B. Unresolved Staff Comments
  The following Items have been omitted in accordance with General Instruction J to Form 10-K:
 
  
  
  Substitute Information provided in accordance with General Instruction J to Form 10-K:
 
 Item 1112(b) of Regulation AB: Significant obligors of pool assets (Financial information).
  
 Item 1114(b)(2) of Regulation AB: Credit enhancement and other support, except for certain derivatives instruments (Financial information).
  
 Item 1115(b) of Regulation AB: Certain derivatives instruments (Financial information).
  
 Item 1117
of Regulation AB: Legal proceedings.
 In re American Express Merchants Litigation




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PART II
 The following Items have been omitted in accordance with General Instruction J to Form 10-K:
 
  
  
  
  
  
  
   
 Item 9B.   Other Information
  
 PART III
 The following Items have been omitted in accordance with General Instruction J to Form 10-K:
 
  
  
  
  
  Substitute Information provided in accordance with General Instruction J to Form 10-K:
 
 Item 1119 of Regulation AB: Affiliations and Certain Relationships and Related Transactions.
  
 Item 1122 of Regulation AB: Compliance with Applicable Servicing Criteria.




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Vendors
  Exceptions
  The Bank of New York Mellon:
  Platform Level Reports




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Item 1123 of Regulation AB: Servicer Compliance Statement.
  
 PART IV
 
  (a)
    (1)
    Not applicable.(2)
    Not applicable.(3)

    The exhibits filed in response to Item 601 of Regulation S-K
are listed in the Exhibit Index.
 (b)
    
    The exhibits filed in response to Item 601 of Regulation S-K are listed in
the Exhibit Index.(c)
    
    Not applicable.




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SIGNATURES
  AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUSTBy:
    AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION II,DepositorBy:
    /s/ Anderson Y. LeeName:
    Anderson Y. LeeTitle:
    President(senior officer in charge of securitization)By:
    AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC,DepositorBy:
    /s/ Scott C. GodderidgeName:
    Scott C. GodderidgeTitle:
    President(senior officer in charge of securitization)By:
    AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC,DepositorBy:
    Denise R. RobertsName:
    Denise R. RobertsTitle:
    President(senior officer in charge of securitization)




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EXHIBIT INDEX
  3.1
    
    Amended and Restated Limited Liability Company Agreement of American Express Receivables
Financing Corporation III LLC (incorporated by reference to Exhibit 3.1 to Registration No.
333-113579-02).3.2
    
    Amended and Restated Limited Liability Company Agreement of American Express Receivables
Financing Corporation IV LLC (incorporated by reference to Exhibit 3.2 to Registration No.
333-113579-01).4.1
    
    American Express Credit Account Master Trust Pooling and Servicing Agreement, dated May 16,
1996, as amended and restated as of January 1, 2006, among American Express Receivables
Financing Corporation III LLC, American Express Receivables Financing Corporation IV LLC,
American Express Receivables Financing Corporation II, as transferors, American Express Travel
Related Services Company, Inc., as servicer, and The Bank of New York, as trustee and
securities intermediary (incorporated by reference to Exhibit 4.1 of Form 10-K, dated March
13, 2006, File No. 000-20787-07).4.2
    
    First Amendment to the Pooling and Servicing Agreement, dated December 17, 2007 (incorporated
by reference to Exhibit 99.01 of Form 8-K, dated December 17, 2007, File No. 333-113579-02).4.3
    
    Second Amendment to the Pooling and Servicing Agreement, dated October 24, 2008 (incorporated
by reference to Exhibit 4.1 of Form 8-K, dated October 24, 2008, File No. 333-113579-02).4.4
    
    Third Amendment to the Pooling and Servicing Agreement, dated February 24, 2009 (incorporated
by reference to Exhibit 4.1 of Form 8-K, dated February 26, 2009, File No.
333-113579-02).4.5
    
    Supplemental Assumption Agreement, dated 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, dated July 15, 1996, File No.
000-207807-07).4.6
    
    Form of American Express Receivables Financing Corporation II Purchase Agreement
(incorporated by reference to Exhibit 10.1 of Form S-3, filed March 6, 1996, File No.
33-95784).4.7
    
    Receivables Purchase Agreement, dated April 16, 2004, between American Express Centurion Bank
and American Express Receivables Financing Corporation III LLC (incorporated by reference to
Exhibit 4.3 of Form 8-K, dated April 16, 2004, File No. 000-207807-07).4.8
    
    First Amendment to the Receivables Purchase Agreement, dated October 24, 2008, between
American Express Centurion Bank and American Express Receivables Financing Corporation III LLC
(incorporated by reference to Exhibit 4.2 of Form 8-K, dated October 24, 2008, File No.
000-20787-07).4.9
    
    Second Amendment to the Receivables Purchase Agreement, dated February 24, 2009, between
American Express Centurion Bank and American Express Receivables Financing Corporation III LLC
(incorporated by reference to Exhibit 4.2 of Form 8-K, dated February 26, 2009, File No.
000-20787-07).4.10
    
    Receivables Purchase Agreement, dated April 16, 2004, between American Express Bank, FSB and
American Express Receivables Financing Corporation IV LLC (incorporated by reference to
Exhibit 4.4 of Form 8-K, dated April 16, 2004, File No. 000-207807-07).4.11
    
    First Amendment to the Receivables Purchase Agreement, dated October 24, 2008, between
American Express Bank, FSB and American Express Receivables Financing Corporation IV LLC
(incorporated by reference to Exhibit 4.3 of Form 8-K, dated October 24, 2008, File No.
000-20787-07).




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4.12
    
    Second Amendment to the Receivables Purchase Agreement, dated February 24, 2009, between
American Express Bank, FSB and American Express Receivables Financing Corporation IV LLC
(incorporated by reference to Exhibit 4.3 of Form 8-K, dated February 26, 2009, File No.
000-20787-07).4.13
    
    Series 2004-2 Supplement, dated June 2, 2004, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of June 2,
2004, File No. 000-207807-07).4.14
    
    Series 2005-2 Supplement, dated March 24, 2005, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.2 of Form 8-K, dated as of March 24,
2005, File No. 000-207807-07).4.15
    
    Series 2005-4 Supplement, dated June 17, 2005, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.2 of Form 8-K, dated as of June 17,
2005, File No. 000-207807-07).4.16
    
    Series 2005-5 Supplement, dated July 21, 2005, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of July 21,
2005, File No. 000-207807-07).4.17
    
    Series 2005-7 Supplement, dated August 18, 2005, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.2 of Form 8-K, dated as of August
18, 2005, File No. 000-207807-07).4.18
    
    Series 2005-8 Supplement, dated November 22, 2005, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of November
22, 2005, File No. 000-207807-07).4.19
    
    Series 2006-1 Supplement, dated June 14, 2006, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of June 14,
2006, File No. 000-207807-07).4.20
    
    Series 2006-2 Supplement, dated June 14, 2006, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.2 of Form 8-K, dated as of June 14,
2006, File No. 000-207807-07).4.21
    
    Series 2006-3 Supplement, dated August 15, 2006, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of August
15, 2006, File No. 333-113579-02).4.22
    
    Series 2007-1 Supplement, dated February 14, 2007, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of February
14, 2007, File No. 333-113579-02).4.23
    
    Series 2007-2 Supplement, dated February 14, 2007, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.2 of Form 8-K, dated as of February
14, 2007, File No. 333-113579-02).




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4.24
    
    Series 2007-4 Supplement, dated, May 17, 2007, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of May 17,
2007, File No. 333-113579-02).4.25
    
    Series 2007-5 Supplement, dated May 17, 2007, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.2 of Form 8-K, dated as of May 17,
2007, File No. 333-113579-02).4.26
    
    Series 2007-6 Supplement, dated July 24, 2007, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of July 24,
2007, File No. 333-113579-02).4.27
    
    Series 2007-7 Supplement, dated July 24, 2007, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of July 24,
2007, File No. 333-113579-02).4.28
    
    Series 2007-8 Supplement, dated October 15, 2007, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of October
15, 2007, File No. 333-113579-02).4.29
    
    Series 2008-1 Supplement, dated January 24, 2008, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of January
25, 2008, File No. 333-113579-02).4.30
    
    Series 2008-2 Supplement, dated February 22, 2008, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of February
22, 2008, File No. 333-113579-02).4.31
    
    Series 2008-4 Supplement, dated as of April 17, 2008, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.2 of Form 8-K, dated as of April 17,
2008, File No. 333-113579-02).4.32
    
    Series 2008-5 Supplement, dated as of June 12, 2008, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of June 12,
2008, File No. 333-113579-02).4.33
    
    Series 2008-6 Supplement, dated as of July 24, 2008, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of July 24,
2008, File No. 333-113579-02).4.34
    
    Series 2008-7 Supplement, dated as of August 15, 2008, supplementing the Pooling and
Servicing Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006,
as amended from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as
of August 15, 2008, File No. 333-113579-02).4.35
    
    Series 2008-8 Supplement, dated as of September 18, 2008, supplementing the Pooling and
Servicing Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006,
as amended from time to time (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as
of September 18, 2008, File No. 333-113579-02).




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4.36
    
    Series 2008-9 Supplement, dated as of September 18 , 2008, supplementing the Pooling and
Servicing Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006,
as amended from time to time (incorporated by reference to Exhibit 4.2 of Form 8-K, dated as
of September 18, 2008, File No. 333-113579-02).4.37
    
    Series 2009-1 Supplement, dated as of June 9, 2009, supplementing the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006, as amended
from time to time (incorporated herein by reference to Exhibit 4.1 of Form 8-K, dated as of
June 9, 2009, File No. 333-113579-02).4.38
    
    Series 2009-2 Supplement to, dated as of September 11, 2009,supplementing the Pooling and
Servicing Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006,
as amended from time to time (incorporated herein by reference to Exhibit 4.1 of Form 8-K,
dated as of September 11, 2009, File No. 333-113579-02).4.39
    
    Amendment to Series Supplements, dated as of March 5, 2008, among American Express
Receivables Financing Corporation II, American Express Receivables Financing Corporation III
LLC and American Express Receivables Financing Corporation IV LLC, as transferors, American
Express Travel Related Services Company, Inc., as servicer, and The Bank of New York, as
trustee (incorporated by reference to Exhibit 4.1 of Form 8-K, dated as of March 14, 2008,
File No. 333-113579-02).4.40
    
    Omnibus Amendment to Series Supplements, dated as of March 5, 2008, among American Express
Receivables Financing Corporation II, American Express Receivables Financing Corporation III
LLC and American Express Receivables Financing Corporation IV LLC, as transferors, American
Express Travel Related Services Company, Inc., as servicer, and The Bank of New York, as
trustee (incorporated by reference to Exhibit 4.2 of Form 8-K, dated March 14, 2008, File No.
333-113579-02).4.41
    
    Amendment to Series 2009-1 Supplement, dated as of October 2, 2009, among American Express
Receivables Financing Corporation II, American Express Receivables Financing Corporation III
LLC, American Express Receivables Financing Corporation IV LLC, American Express Travel
Related Services Company, Inc. and The Bank of New York Mellon (incorporated by reference to
Exhibit 4.1 of Form 8-K, dated as of October 2, 2009, File No. 333-113579-02).4.42
    
    Omnibus Amendment to Group I Series Supplements, dated as of October 2, 2009, among American
Express Receivables Financing Corporation II, American Express Receivables Financing
Corporation III LLC, American Express Receivables Financing Corporation IV LLC, American
Express Travel Related Services Company, Inc. and The Bank of New York Mellon (incorporated by
reference to Exhibit 4.2 of Form 8-K, dated as of October 2, 2009, File No. 333-113579-02).4.43
    
    Omnibus Amendment to Group II Series Supplements, dated as of October 2, 2009, among American
Express Receivables Financing Corporation II, American Express Receivables Financing
Corporation III LLC, American Express Receivables Financing Corporation IV LLC, American
Express Travel Related Services Company, Inc. and The Bank of New York Mellon (incorporated by
reference to Exhibit 4.3 of Form 8-K, dated as of October 2, 2009, File No. 333-113579-02).31.1*
    
    Certification of Anderson Y. Lee pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
for the period from and including January 1, 2009 to and including December 31, 2009.31.2*
    
    Certification of Scott C. Godderidge pursuant to Section 302 of the Sarbanes-Oxley Act of
2002 for the period from and including January 1, 2009 to and including December 31, 2009.31.3*
    
    Certification of Denise R. Roberts pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
for the period from and including January 1, 2009 to and including December 31, 2009.33.1*
    
    Report on Assessment of Compliance with Servicing Criteria of American Express Travel
Related Services Company, Inc., Amex Card Services Company, American Express Centurion Bank
and American Express




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Bank, FSB.33.2*
    
    Report on Assessment of Compliance with Servicing Criteria of Regulus Group LLC.33.3*
    
    Report on Assessment of Compliance with Servicing Criteria of The Bank of New York Mellon.34.1*
    
    Attestation Report of PricewaterhouseCoopers LLP on Assessment of Compliance with Servicing
Criteria relating to American Express Travel Related Services Company, Inc., Amex Card
Services Company, American Express Centurion Bank and American Express Bank, FSB.34.2*
    
    Attestation Report of KPMG on Assessment of Compliance with Servicing Criteria relating to
Regulus LLC.34.3*
    
    Attestation Report of KPMG on Assessment of Compliance with Servicing Criteria relating to
The Bank of New York Mellon.35.1*
    
    Servicer Compliance Statement of American Express Travel Related Services Company, Inc.35.2*
    
    Servicer Compliance Statement of Amex Card Services Company.35.3*
    
    Servicer Compliance Statement of Regulus West LLC.35.4*
    
    Servicer Compliance Statement of American Express Centurion Bank.35.5*
    
    Servicer Compliance Statement of American Express Bank, FSB.99.1
    
    Supplemental Servicing Agreement, dated as of June 30, 2004, among American Express Travel
Related Services Company, Inc., American Express Centurion Bank, American Express Bank, FSB,
American Express Receivables Financing Corporation II, American Express Receivables Financing
Corporation III LLC, American Express Receivables Financing Corporation IV LLC (incorporated
by reference to Exhibit 4.6 of Registration Statement on Form S-3/A Filed March 31, 2006, File
No. 333-130508).99.2
    
    Form of Subservicing Agreement between American Express Travel Related Services Company, Inc.
and Amex Card Services Company (incorporated by reference to Exhibit 4.7 of Registration
Statement on Form S-3/A filed March 31, 2006, File No. 333-130508).99.3
    
    Remittance Processing Services Agreement between American Express Travel Related Services
Company, Inc. and Regulus West LLC (incorporated by reference to Exhibit 4.8 of Registration
Statement on Form S-3/A filed March 31, 2006, File No. 333-130508).99.4
    
    Amendment Agreement Number FLL-05-6-MP01-04, dated as of March 22, 2006, between American
Express Travel Related Services Company, Inc. and Regulus West LLC (incorporated by reference
to Exhibit 4.8.1 of Registration Statement on Form S-3, filed March 31, 2006, File No.
333-130508).99.5
    
    Amendment Agreement Number FLL-05-6-MP01-05, dated as of March 29, 2006, between American
Express Travel Related Services Company, Inc. and Regulus West LLC (incorporated by reference
to Exhibit 4.8.2 of Registration Statement on Form S-3, filed March 31, 2006, File No.
333-130508).99.6
    
    Amendment, dated as of October 30, 2009, between American Express Travel Related Services
Company, Inc. and Regulus West LLC (incorporated by reference to Exhibit 10.1 of Form 8-K,
filed November 3, 2009, File No. 333-113579-02).