<PAGE>
                             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, 1997

                                   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
   
           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: Class
A Series 1996-1 6.80% Asset Backed Certificates, Class B Series
1996-1 6.95% Asset Backed Certificates, Class A Series 1997-1 6.40%
Asset Backed Certificates and Class B Series 1997-1 6.55% 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.   x
             --

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

          Documents Incorporated By Reference:  NONE
PAGE
<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 OptimaR Card, Optima Line of Credit and Sign
& TravelR 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.

                               1<PAGE>
   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.

   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


                               2
<PAGE>
issued  four classes of Investor Certificates:  Class A Series
1996-1 6.80% Asset Backed Certificates, Class B Series 1996-1 6.95%
Asset Backed Certificates (collectively the "Series 1996-1
Certificates"), and on August 7, 1997, the Trust issued Class A
Series 1997-1 6.40% Asset Backed Certificates and Class B Series
1997-1 6.55% Asset Backed Certificates which have been registered
under Section 12(g) of the Securities Exchange Act of 1934
(collectively the "Series 1997-1 Certificates").  The Series 1997-1
Certificates were offered pursuant to a Prospectus Supplement dated
August 21, 1997 to Prospectus dated August 21, 1997 issued under
the Pooling and Servicing Agreement (the "Agreement") dated May 16,
1996, and the Series 1997-1 Supplement dated as of August 7, 1997,
to the Agreement (the "Series 1997-1 Supplement").  Interest on the
Series 1997-1 Certificates accrues from August 28, 1997 and is
payable on October 15, 1997 and on the fifteenth day of each month
thereafter each of which is a Distribution Date as defined above. 
Principal with respect to the 1997-1 Class A Certificates and the
1997-1 Class B Certificates is scheduled to be distributed on the
September 2002 Distribution Date, buy may be paid earlier or later
under certain limited circumstances as provided in the Agreement
and the 1997-1 Supplement.

   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 1997 or, as
applicable, the amount of such items as at December 31, 1997.  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 or the Originators, exclusive of ordinary routine
litigation incidental to the Trustee's, Originator's 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.












                                 4
<PAGE>
                            PART III


Item 10. Directors and Executive Officers of the Registrant.

   Not applicable.


Item 11. Executive Compensation.

   Not applicable.


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

   (a)   The Investor Certificates were delivered in book-entry
         form through the facilities of The Depository Trust
         Company.  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 Certificates
         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 January 12,
         1998, 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:

The Bank of New York           $48,065,000             5.6%

Bankers Trust Company          $95,638,000            11.1%

Boston Safe Deposit &
Trust Company                 $129,535,000            15.0%

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

Chase Manhattan Bank          $150,000,000            17.4%

Northern Trust Company         $53,144,000             6.1%

SSB - Custodian                $97,618,000            11.3%

                                   5
<PAGE>
                           Principal Amount 
Name                       of Certificates       Percent of Class
----                       ----------------      ----------------

Class B Series 1996-1
6.95% Asset Backed
Certificates:

Chase Manhattan Bank          $58,000,000             96.7%



Class A Series 1997-1
6.40% Asset Backed
Certificates:

Bankers Trust Company         $92,215,000             10.7%

Boston Safe Deposit &
Trust Co.                     $70,386,000              8.1%

Chase Manhattan Bank         $204,910,000             23.7%

Chase Manhattan Bank/
Chemical                      $75,250,000              8.7%

Citibank, N.A.                $55,325,000              6.4%

Northern Trust Company        $47,850,000              5.5%

SSB - Custodian              $127,545,000             14.7%



Class B Series 1997-1
6.55% Asset Backed
Certificates:

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

Chase Manhattan Bank          $33,100,000             55.2%

Chase Manhattan Bank/
Chemical                       $4,000,000              6.7%

Morgan Stanley & Co. Inc.      $5,000,000              8.3%
</TABLE>

   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.

                               6<PAGE>
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 for the
        monthly due periods occurring since December 27, 1996.

        1. Form 8-K, dated February 18, 1997, attaching the Monthly
           Servicer's Certificate for the due period December 27,
           1996 to January 25, 1997.

        2. Form 8-K, dated March 17, 1997, attaching the Monthly
           Servicer's Certificate for the due period January 26, 1997
           through February 24, 1997.

        3. Form 8-K, dated April 15, 1997, attaching the Monthly
           Servicer's Certificate for the due period February 25,
           1997 through March 26, 1997.

        4. Form 8-K, dated May 15, 1997, attaching the Monthly
           Servicer's Certificate for the due period March 27, 1997
           through April 25, 1997.

        5. Form 8-K, dated June 13, 1997, attaching the Monthly
           Servicer's Certificate for the due period April 26, 1997
           through May 25, 1997.

        6. Form 8-K, dated July 15, 1997, attaching the Monthly
           Servicer's Certificate for the due period May 26, 1997
           through June 25, 1997.

        7. Form 8-K, dated August 15, 1997, attaching the Monthly
           Servicer's Certificate for the due period June 26, 1997
           through July 25, 1997.


                                  7
<PAGE>
      8.    Form 8-K, dated September 11, 1997, attaching the Monthly
            Servicer's Certificate for the due period July 26, 1997
            through August 25, 1997.

      9.    Form 8-K, dated October 14, 1997, attaching the Monthly
            Servicer's Certificate for the due period August 26, 1997
            through September 25, 1997.

      10.   Form 8-K, dated November 17, 1997, attaching the
            Monthly Servicer's Certificate for the due period
            September 26, 1997 through October 25, 1997.

      11.   Form 8-K, dated December 15, 1997, attaching the
            Monthly Servicer's Certificate for the due period
            October 26, 1997 through November 24, 1997.

      12.   Form 8-K, dated January 15, 1998, attaching the Monthly
            Servicer's Certificate for the due period November 25,
            1997 through December 25, 1997.

      13.   Form 8-K, dated February 19, 1998, attaching the
            Monthly Servicer's Certificate for the due period
            December 26, 1997 through January 25, 1998.

      14.   Form 8-K, dated March 16, 1998, attaching the Monthly
            Servicer's Certificate for the due period January 26,
            1998 through February 24, 1998.

   (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).

      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).




                                     8
<PAGE>
      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).

      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.



























                                    9
<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


________________________
Phillip J. Riese             Director and Chairman of the Board

       *
_______________________
Frank L. Skillern            Director and Chief Executive Officer

       *
________________________
David E. Poulsen             Director, President and Chief Credit
                             Officer
       *
________________________
Gilbert E. Ahye              Director


________________________  
Maria J. Garciaz             Director

       *
________________________  
Ash Gupta                    Director

       *
________________________  
Peter A. Lefferts            Director

       *
________________________
John J. P. McDonnell         Director


________________________  
Raymond F. Pettit            Director

      
________________________  
Roslyn M. Watson             Director

      
________________________  
Jim F. Welch                 Director


*By:  /s/Rhonda Halpern
         _________________
         Rhonda Halpern
         Attorney-in-Fact

Dated:  March 26, 1998
                                       10<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 
                                      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 26, 1998

                                    11<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).

      Description       

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).

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 Servicing Statement Delivered to the Trustee.

                                  12<PAGE>