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, 2001

                                       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 No. 000-20787-07

                  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) 640-2000

        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 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,
          the Class A Series 2000-1 7.20% Asset Backed Certificates,
          the Class B Series 2000-1 7.40% Asset Backed Certificates,
          the Class A Series 2000-2 Floating Rate Asset Backed Certificates,
          the Class B Series 2000-2 Floating Rate Asset Backed Certificates,
          the Class A Series 2000-3 Floating Rate Asset Backed Certificates,
          the Class B Series 2000-3 Floating Rate Asset Backed Certificates,
          the Class A Series 2000-4 Floating Rate Asset Backed Certificates,
          the Class B Series 2000-4 Floating Rate Asset Backed Certificates,
          the Class A Series 2000-5 Floating Rate Asset Backed Certificates,
          the Class B Series 2000-5 Floating Rate Asset Backed Certificates,
          the Class A Series 2001-1 Floating Rate Asset Backed Certificates,
          the Class B Series 2001-1 Floating Rate Asset Backed Certificates,
          the Class A Series 2001-2 5.53% Asset Backed Certificates,
          the Class B Series 2001-2 5.83% Asset Backed Certificates,
          the Class A Series 2001-3 Floating Rate Asset Backed Certificates,
          the Class B Series 2001-3 Floating Rate Asset Backed Certificates,
          the Class A Series 2001-4 Floating Rate Asset Backed Certificates,
          the Class B Series 2001-4 Floating Rate Asset Backed Certificates,
          the Class A Series 2001-5 Floating Rate Asset Backed Certificates,
          the Class B Series 2001-5 Floating Rate Asset Backed Certificates,
          the Class A Series 2001-6 Floating Rate Asset Backed Certificates,
          the Class B Series 2001-6 Floating Rate Asset Backed Certificates,
          the Class A Series 2001-7 Floating Rate Asset Backed Certificates,
          the Class B Series 2001-7 Floating Rate Asset Backed Certificates,
          the Class A Series 2002-1 Floating Rate Asset Backed Certificates and
          the Class B Series 2002-1 Floating Rate Asset Backed Certificates.


THE REGISTRANT MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTION I(1)(a) AND
(b) OF FORM 10-K AND HAS  THEREFORE  OMITTED  CERTAIN  ITEMS FROM THIS REPORT IN
ACCORDANCE WITH THE REDUCED DISCLOSURE FORMAT PERMITTED UNDER INSTRUCTION I.

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, as amended by the First  Amendment to the Pooling and Servicing
Agreement, dated as of March 30, 2001, among American Express Centurion Bank and
American  Express  Receivables  Financing  Corporation II ("RFC II"), each as an
Originator  ("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  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
designated  American  Express  Credit Card  (whether  branded  Optima(R)Card  or
otherwise),  Optima Line of Credit and Sign & Travel(R)/Extended  Payment Option
consumer  revolving  credit  accounts  or  features  and other  charge or credit
accounts or products (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.

         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.

         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").

         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 44 classes
of Investor Certificates, 42 of which are outstanding:

         .        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");

         .        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");

         .        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");

         .        Class A Series 1999-3 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   1999-3   Floating  Rate  Asset  Backed
                  Certificates (collectively, the "Series 1999-3 Certificates");

         .        Class A Series 1999-4 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   1999-4   Floating  Rate  Asset  Backed
                  Certificates (collectively, the "Series 1999-4 Certificates");

         .        Class A Series 1999-5 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   1999-5   Floating  Rate  Asset  Backed
                  Certificates (collectively, the "Series 1999-5 Certificates");

         .        Class A Series 1999-6 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   1999-6   Floating  Rate  Asset  Backed
                  Certificates (collectively, the "Series 1999-6 Certificates");

         .        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");

         .        Class A Series 2000-2 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   2000-2   Floating  Rate  Asset  Backed
                  Certificates (collectively, the "Series 2000-2 Certificates");

         .        Class A Series 2000-3 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   2000-3   Floating  Rate  Asset  Backed
                  Certificates (collectively, the "Series 2000-3 Certificates");

         .        Class A Series 2000-4 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   2000-4   Floating  Rate  Asset  Backed
                  Certificates (collectively, the "Series 2000-4 Certificates");

         .        Class A Series 2000-5 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   2000-5   Floating  Rate  Asset  Backed
                  Certificates (collectively, the "Series 2000-5 Certificates");


                                      - 2 -


<PAGE>


         .        Class A Series 2001-1 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   2001-1   Floating  Rate  Asset  Backed
                  Certificates (collectively, the "Series 2001-1 Certificates");

         .        Class A Series  2001-2  5.53% Asset  Backed  Certificates  and
                  Class  B  Series   2001-2  5.83%  Asset  Backed   Certificates
                  (collectively, the "Series 2001-2 Certificates");

         .        Class A Series 2001-3 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   2001-3   Floating  Rate  Asset  Backed
                  Certificates (collectively, the "Series 2001-3 Certificates");

         .        Class A Series 2001-4 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   2001-4   Floating  Rate  Asset  Backed
                  Certificates (collectively, the "Series 2001-4 Certificates");

         .        Class A Series 2001-5 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   2001-5   Floating  Rate  Asset  Backed
                  Certificates (collectively, the "Series 2001-5 Certificates");

         .        Class A Series 2001-6 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   2001-6   Floating  Rate  Asset  Backed
                  Certificates (collectively, the "Series 2001-6 Certificates");

         .        Class A Series 2001-7 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   2001-7   Floating  Rate  Asset  Backed
                  Certificates (collectively,  the "Series 2001-7 Certificates")
                  and

         .        Class A Series 2002-1 Floating Rate Asset Backed  Certificates
                  and  Class  B  Series   2002-1   Floating  Rate  Asset  Backed
                  Certificates (collectively, the "Series 2002-1 Certificates").

         The Class A Series  1996-1  6.80% Asset Backed Certificates and Class B
Series 1996-1 6.95% Asset Backed Certificates were paid in full May 15, 2001.

         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  2001 or,  as  applicable,  the  amount
of such  items as of December 25, 2001. 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, Servicer's or Originators' duties under the Agreement.



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

         Not applicable.


                                      - 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  investors' 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 March 8, 2002
               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:

                                                         Principal
                                                         Amount of      Percent
                                 Name                    Certificates   of Class
                                 ----                    ------------   --------
               CLASS A SERIES
               1997-1 6.40%
               ASSET BACKED
               CERTIFICATES:     JP Morgan Chase Bank    $229,514,000     26.5%
                                 The Bank of New York    $104,540,000     12.1%
                                 Bankers Trust
                                   Company, N.A.          $71,573,000      8.3%
                                 Citibank, N.A.           $49,165,000      5.7%
                                 Boston Safe Deposit
                                   and Trust Company      $48,045,000      5.6%

               CLASS B SERIES
               1997-1 6.55%
               ASSET BACKED
               CERTIFICATES:     JP Morgan Chase Bank     $19,200,000     32.0%
                                 The Bank of New York     $19,000,000     31.7%
                                 State Street Bank
                                   and Trust Company      $15,650,000     26.1%

               CLASS A SERIES
               1998-1 FLOATING
               RATE ASSET
               BACKED
               CERTIFICATES:     JP Morgan Chase Bank    $303,480,000     36.8%
                                 Citibank, N.A.          $200,810,000     24.3%
                                 Bankers Trust
                                   Company, N.A.         $142,020,000     17.2%

               CLASS B SERIES
               1998-1 FLOATING
               RATE ASSET
               BACKED
               CERTIFICATES:     JP Morgan Chase Bank/
                                   CCSG                   $30,000,000     37.5%
                                 Lehman Brothers Bank,
                                   FSB                    $18,000,000     22.5%
                                 The Bank of New York     $12,000,000     15.0%
                                 Bankers Trust
                                   Company, N.A.          $10,000,000     12.5%
                                 JP Morgan Chase Bank     $10,000,000     12.5%


                                      - 5 -


<PAGE>


                                                         Principal
                                                         Amount of      Percent
                                 Name                    Certificates   of Class
                                 ----                    ------------   --------
               CLASS A SERIES
               1999-1 5.60%
               ASSET BACKED
               CERTIFICATES:     Bankers Trust
                                   Company, N.A.         $161,963,000     18.7%
                                 JP Morgan Chase Bank    $121,390,000     14.0%
                                 State Street Bank
                                   and Trust Company     $113,800,000     13.2%
                                 Boston Safe Deposit
                                   and Trust Company     $107,001,000     12.4%
                                 The Bank of New York     $51,052,000      5.9%
                                 The Northern Trust
                                   Company                $48,045,000      5.6%

               CLASS B SERIES
               1999-1 5.85%
               ASSET BACKED
               CERTIFICATES:     The Bank of New York     $37,500,000     62.5%
                                 JP Morgan Chase Bank     $17,000,000     28.3%

               CLASS A SERIES
               1999-2 5.95%
               ASSET BACKED
               CERTIFICATES:     Boston Safe Deposit
                                   and Trust Company      $62,127,000     14.4%
                                 The Bank of New York     $59,300,000     13.7%
                                 State Street Bank
                                   and Trust Company      $57,640,000     13.3%
                                 Bankers Trust
                                   Company, N.A.          $55,379,000     12.8%
                                 JP Morgan Chase Bank     $52,799,000     12.2%
                                 Citibank, N.A.           $30,500,000      6.9%
                                 BT/Suntrust Portfolio    $28,084,000      6.5%

               CLASS B SERIES
               1999-2 6.10%
               ASSET BACKED
               CERTIFICATES:     JP Morgan Chase Bank     $16,000,000     53.3%
                                 The Bank of New York      $9,800,000     32.7%
                                 Brown Brothers
                                   Harriman & Co.          $4,200,000     14.0%

               CLASS A SERIES
               1999-3 FLOATING
               RATE ASSET
               BACKED
               CERTIFICATES:     The Bank of New York    $371,850,000     45.1%
                                 State Street Bank
                                   and Trust Company     $202,560,000     24.6%
                                 Bankers Trust
                                   Company, N.A.          $92,590,000     11.2%
                                 Boston Safe, Deposit
                                   and Trust Company      $90,300,000     10.9%


                                      - 6 -


<PAGE>


                                                         Principal
                                                         Amount  of     Percent
                                 Name                    Certificates   of Class
                                 ----                    ------------   --------
               CLASS B SERIES
               1999-3 FLOATING
               RATE ASSET
               BACKED
               CERTIFICATES:     Bank One Trust
                                   Company, N.A.          $25,000,000     31.2%
                                 JP Morgan Chase Bank,
                                   CCSG                   $25,000,000     31.2%
                                 JP Morgan Chase Bank     $20,000,000     25.0%
                                 Brown Brothers
                                   Harriman & Co.          $5,000,000      6.2%
                                 Citibank, N.A.            $5,000,000      6.2%

               CLASS A SERIES
               1999-4 FLOATING
               RATE ASSET
               BACKED
               CERTIFICATES:     The Northern Trust
                                   Company               $116,000,000     28.1%
                                 Boston Safe Deposit
                                   and Trust Company      $91,400,000     22.1%
                                 JP Morgan Chase Bank     $65,945,000     15.9%
                                 The Bank of New York     $51,100,000     12.4%
                                 Deutsche Bank A.G.,
                                   New York Branch        $40,000,000      9.7%
                                 State Street Bank
                                   and Trust Company      $23,000,000      5.6%

               CLASS B SERIES
               1999-4 FLOATING
               RATE ASSET
               BACKED
               CERTIFICATES:     Bank One Trust
                                   Company, N.A.          $30,000,000     75.0%
                                 JP Morgan Chase Bank     $10,000,000     25.0%

               CLASS A SERIES
               1999-5 FLOATING
               RATE ASSET
               BACKED
               CERTIFICATES:     State Street Bank
                                   and Trust Company     $273,600,000     66.3%
                                 Citibank, N.A.          $113,000,000     27.4%

               CLASS B SERIES
               1999-5 FLOATING
               RATE ASSET
               BACKED
               CERTIFICATES:     Mizuho Trust and
                                   Banking Co. (USA)      $20,000,000     50.0%
                                 JP Morgan Chase Bank     $13,000,000     32.5%
                                 Deutsche Banc Alex.
                                   Brown  Inc.             $4,000,000     10.0%


                                     - 7 -
<PAGE>


                                                         Principal
                                                         Amount  of     Percent
                                 Name                    Certificates   of Class
                                 ----                    ------------   --------
               CLASS A SERIES
               1999-6 FLOATING
               RATE ASSET
               BACKED
               CERTIFICATES:     The Northern Trust
                                   Company               $132,930,000     32.2%
                                 State Street Bank
                                   and Trust Company      $81,750,000     19.8%
                                 Deutsche Bank A.G.,
                                   New York Branch        $51,250,000     12.4%
                                 The Bank of New York     $44,500,000     10.8%
                                 Investors Bank and
                                   Trust Company          $32,000,000      7.6%
                                 Brown Brothers
                                   Harriman & Co.         $27,100,000      6.6%
                                 Citibank, N.A.           $21,250,000      5.2%

               CLASS B SERIES
               1999-6 FLOATING
               RATE ASSET
               BACKED
               CERTIFICATES:     Citibank, N.A.           $25,000,000     62.5%
                                 JP Morgan Chase Bank     $15,000,000     37.5%

               CLASS A SERIES
               2000-1 7.20%
               ASSET BACKED
               CERTIFICATES:     Bankers Trust
                                   Company,  N.A.         $63,795,000     14.8%
                                 JP Morgan Chase Bank     $63,430,000     14.7%
                                 State Street Bank -
                                   Trust Custody          $35,720,000      8.3%
                                 The Bank of New York     $35,420,000      8.2%
                                 The Northern Trust
                                   Company                $34,859,000      8.1%
                                 Boston Safe Deposit
                                   and Trust Company      $34,710,000      8.0%
                                 State Street Bank
                                   and Trust Company      $26,580,000      6.1%
                                 FUNB - Philadelphia
                                   Main                   $21,800,000      5.0%

               CLASS B SERIES
               2000-1 7.40%
               ASSET BACKED
               CERTIFICATES:     State Street Bank
                                   and Trust Company      $14,000,000     46.7%
                                 JP Morgan Chase Bank      $6,850,000     22.8%
                                 Citibank, N.A.            $5,000,000     16.7%
                                 State Street Bank -
                                   Bank Portfolio          $3,325,000     11.1%


                                     - 8 -


<PAGE>


                                                         Principal
                                                         Amount  of     Percent
                                 Name                    Certificates   of Class
                                 ----                    ------------   --------
               CLASS A SERIES
               2000-2 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      State Street Bank
                                   and Trust Company     $172,325,000     41.8%
                                 JP Morgan Chase Bank    $133,400,000     32.3%
                                 Bankers Trust
                                   Company, N.A.          $46,025,000     11.2%
                                 Boston Safe Deposit
                                   and Trust Company      $21,400,000      5.2%

               CLASS B SERIES
               2000-2 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      Bankers Trust
                                   Company, N.A.          $25,000,000     62.5%
                                 Bank One Trust
                                   Company, N.A.          $13,000,000     32.5%
                                 The Northern Trust
                                   Company                 $2,000,000      5.0%

               CLASS A SERIES
               2000-3 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      State Street Bank
                                   and Trust Company     $306,000,000     37.1%
                                 Boston Safe Deposit
                                   and Trust Company     $246,900,000     29.9%
                                 JP Morgan Chase Bank     $82,740,000     10.0%
                                 Citibank, N.A.           $76,800,000      9.3%

               CLASS B SERIES
               2000-3 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      Mizuho Trust and
                                   Banking Co. (USA)      $30,000,000     37.5%
                                 JP Morgan Chase Bank     $22,500,000     28.1%
                                 Bank One Trust
                                   Company, N.A.          $15,000,000     18.8%
                                 Bank of Tokyo -
                                   Mitsubishi Trust
                                   Company                $10,000,000     12.5%


                                     - 9 -


<PAGE>


                                                         Principal
                                                         Amount  of     Percent
                                 Name                    Certificates   of Class
                                 ----                    ------------   --------
               CLASS A SERIES
               2000-4 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      Bank of Tokyo -
                                   Mitsubishi Trust
                                   Company             $1,000,000,000      100%

               CLASS B SERIES
               2000-4 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      JP Morgan Chase Bank     $48,970,000     50.5%
                                 Bank of Tokyo -
                                   Mitsubishi Trust
                                   Company                $48,000,000     49.5%
               CLASS A SERIES
               2000-5 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      Boston Safe Deposit
                                   and Trust Company     $195,000,000     30.0%
                                 State Street Bank
                                   and Trust Company     $167,325,000     25.7%
                                 Merrill Lynch,
                                   Pierce, Fenner &
                                   Smith Safekeeping      $95,000,000     14.6%
                                 The Northern Trust
                                   Company                $72,000,000     11.1%
                                 JP Morgan Chase Bank     $48,500,000      7.5%

               CLASS B SERIES
               2000-5 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      JP Morgan Chase Bank     $27,030,000     42.9%
                                 Bank One Trust
                                   Company, N.A.          $14,000,000     22.2%
                                 Barclays Capital Inc./
                                   Barclays Capital Inc.
                                   Fixed Income           $12,000,000     19.0%
                                 Citibank, N.A.           $10,000,000     15.9%


                                     - 10 -


<PAGE>


                                                         Principal
                                                         Amount  of     Percent
                                 Name                    Certificates   of Class
                                 ----                    ------------   --------
               CLASS A SERIES
               2001-1 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      State Street Bank
                                   and Trust Company     $229,000,000     37.0%
                                 Boston Safe Deposit
                                   and Trust Company     $132,000,000     21.3%
                                 JP Morgan Chase Bank    $130,000,000     21.0%
                                 Bankers Trust
                                   Company, N.A.          $70,000,000     11.3%
                                 Citibank, N.A.           $36,750,000      5.9%


               CLASS B SERIES
               2001-1 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      Merrill Lynch,
                                   Pierce, Fenner &
                                   Smith Safekeeping      $20,000,000     33.3%
                                 The Bank of New York     $10,000,000     16.7%
                                 Bankers Trust
                                   Company, N.A.          $10,000,000     16.7%
                                 Bank of Tokyo -
                                   Mitsubishi Trust
                                   Company                $10,000,000     16.7%
                                 JP Morgan Chase Bank     $10,000,000     16.7%

               CLASS A SERIES
               2001-2 5.53%
               ASSET BACKED
               CERTFICATES:      Boston Safe Deposit
                                   and Trust Company      $53,400,000     24.7%
                                 State Street Bank
                                   and Trust Company      $38,765,000     17.9%
                                 The Bank of New York     $25,645,000     11.9%
                                 Bankers Trust
                                   Company, N.A.          $22,350,000     10.3%
                                 JP Morgan Chase Bank     $21,985,000     10.2%
                                 The Northern Trust
                                   Company                $11,955,000      5.5%

               CLASS B SERIES
               2001-2 5.83%
               ASSET BACKED
               CERTFICATES:      JP Morgan Chase Bank     $13,000,000     86.7%
                                 State Street Bank -
                                   Bank Portfolio          $2,000,000     13.3%


                                     - 11 -


<PAGE>


                                                         Principal
                                                         Amount  of     Percent
                                 Name                    Certificates   of Class
                                 ----                    ------------   --------
               CLASS A SERIES
               2001-3 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      State Street Bank
                                   and Trust Company     $199,250,000     32.3%
                                 The Northern Trust
                                   Company               $115,000,000     18.6%
                                 Bankers Trust
                                   Company, N.A.         $100,000,000     16.2%
                                 JP Morgan Chase Bank     $65,000,000     10.5%
                                 Boston Safe Deposit
                                   and Trust Company      $64,000,000     10.3%
                                 Harris Trust and
                                   Savings Bank           $35,000,000      5.7%

               CLASS B SERIES
               2001-3 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      Mizuho Trust and
                                   Banking Co. (USA)      $20,000,000     33.3%
                                 The Bank of New York     $10,000,000     16.7%
                                 Bankers Trust
                                   Company, N.A.          $10,000,000     16.7%
                                 Bank One Trust
                                   Company, N.A.          $10,000,000     16.7%
                                 Boston Safe Deposit
                                   and Trust Company      $10,000,000     16.7%

               CLASS A SERIES
               2001-4 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      Boston Safe Deposit
                                   and Trust Company     $189,000,000     31.6%
                                 Bankers Trust
                                   Company, N.A.          $96,498,000     16.1%
                                 The Northern Trust
                                   Company                $92,100,000     15.4%
                                 Merrill Lynch,
                                   Pierce, Fenner &
                                   Smith Safekeeping      $52,309,122      8.7%
                                 Citibank, N.A.           $45,000,000      7.5%
                                 JP Morgan Chase Bank     $30,000,000      5.0%


                                     - 12 -


<PAGE>


                                                         Principal
                                                         Amount  of     Percent
                                 Name                    Certificates   of Class
                                 ----                    ------------   --------
               CLASS B SERIES
               2001-4 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      Bank of Tokyo -
                                   Mitsubishi Trust
                                   Company                $18,000,000     31.0%
                                 Bank One Trust
                                   Company,  N.A.         $15,000,000     25.9%
                                 Bankers Trust
                                   Company, N.A.          $15,000,000     25.9%
                                 The Bank of New York     $10,000,000     17.2%

               CLASS A SERIES
               2001-5 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      Citibank, N.A.          $125,500,000      30.3%
                                 JP Morgan Chase Bank/
                                   Correspondence
                                   Clearing Services      $55,000,000     13.3%
                                 Harris Trust and
                                   Savings Bank           $50,000,000     12.1%
                                 State Street Bank
                                   and Trust Company      $39,825,000      9.7%
                                 USBNA/Trust Company      $29,750,000      7.2%
                                 Brown Brothers
                                   Harriman & Co.         $25,000,000      6.1%
                                 FUNB - Main
                                   Philadelphia           $25,000,000      6.1%

               CLASS B SERIES
               2001-5 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      Mizuho Trust and
                                   Banking Co. (USA)      $20,000,000     50.0%
                                 JP Morgan Chase Bank     $13,000,000     32.5%
                                 The Bank of New York      $7,000,000     17.5%

               CLASS A SERIES
               2001-6 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      Merrill Lynch,
                                   Pierce, Fenner &
                                   Smith Safekeeping     $125,500,000     21.7%
                                 JP Morgan Chase Bank    $125,000,000     21.6%
                                 Bankers Trust
                                   Company, N.A.         $100,000,000     17.3%
                                 The Northern Trust
                                   Company                $95,000,000     16.4%
                                 Boston Safe Deposit
                                   and Trust Company      $62,000,000     10.7%


                                     - 13 -


<PAGE>


                                                         Principal
                                                         Amount  of     Percent
                                 Name                    Certificates   of Class
                                 ----                    ------------   --------
               CLASS B SERIES
               2001-6 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      JP Morgan Chase Bank     $30,800,000     55.0%
                                 Bankers Trust
                                   Company, N.A.          $20,000,000     35.7%
                                 Brown Brothers
                                   Harriman & Co.          $5,200,000      9.3%

               CLASS A SERIES
               2001-7 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      Merrill Lynch,
                                   Pierce, Fenner &
                                   Smith Safekeeping     $233,000,000     43.4%
                                 JP Morgan Chase Bank/
                                   CCSG                  $111,500,000     20.8%
                                 JP Morgan Chase Bank     $70,000,000     13.1%
                                 Citibank, N.A.           $40,000,000      7.5%

               CLASS B SERIES
               2001-7 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      Bank of New York         $15,000,000     28.8%
                                 JP Morgan Chase Bank     $15,000,000     28.8%
                                 Bankers Trust
                                   Company, N.A.          $12,000,000     23.1%
                                 Bank of Tokyo -
                                   Mitsubishi Trust
                                   Company                $10,000,000     19.2%

               CLASS A SERIES
               2002-1 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      Bankers Trust
                                   Company, N.A.          $30,000,000     40.8%
                                 JP Morgan Chase Bank     $17,600,000     23.9%
                                 The Bank of New York     $14,000,000     19.0%
                                 JP Morgan Chase Bank/
                                   CCSG 2                 $12,000,000     16.3%

               CLASS B SERIES
               2002-1 FLOATING
               RATE ASSET
               BACKED
               CERTFICATES:      JP Morgan Chase Bank    $344,950,000     45.4%
                                 Citibank, N.A.          $165,000,000     21.7%
                                 The Bank of New York    $120,700,000     15.9%


                                     - 14 -


<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
               30, 2001:

               1.   Form 8-K, dated March 23, 2001,  attaching the Series 2001-2
                    Supplement,  dated as of March 23, 2001,  supplementing  the
                    Pooling and  Servicing  Agreement,  dated as of May 16, 1996
                    and announcing that on March 23, 2001, the American  Express
                    Credit  Account  Master  Trust  issued  Class A 5.53%  Asset
                    Backed  Certificates,  Series 2001-2 and Class B 5.83% Asset
                    Backed Certificates, Series 2001-2.

               2.   Form 8-K, dated March 30, 2001,  attaching the Series 2001-3
                    Supplement,  dated as of April 3,  2001,  supplementing  the
                    Pooling and Servicing  Agreement,  dated as of May 16, 1996,
                    also  attaching  the  First  Amendment  to the  Pooling  and
                    Servicing  Agreement,  dated as of March 30, 2001,  amending
                    the Pooling  and  Servicing  Agreement,  dated as of May 16,
                    1996.

               3.   Form 8-K,  dated  April 9, 2001,  attaching  the Series Term
                    Sheet,  dated April 9, 2001,  which sets forth the  proposed
                    issuances  of  the  Class  A  Floating   Rate  Asset  Backed
                    Certificates,  Series 2001-4,  and the Class B Floating Rate
                    Asset Backed  Certificates,  Series 2001-4,  of the American
                    Express Credit Account Master Trust.


                                     - 15 -

<PAGE>


               4.   Form  8-K,  dated  April 16,  2001,  attaching  the  Monthly
                    Servicer's  Certificate for the due period February 25, 2001
                    through March 26, 2001.

               5.   Form 8-K, dated April 19, 2001,  attaching the Series 2001-4
                    Supplement,  dated as of April 19, 2001,  supplementing  the
                    Pooling and Servicing  Agreement,  dated as of May 16, 1996.

               6.   Form 8-K,  dated April 30, 2001,  attaching  the Series Term
                    Sheet,  dated April 30, 2001,  which sets forth the proposed
                    issuances  of  the  Class  A  Floating   Rate  Asset  Backed
                    Certificates,  Series 2001-5,  and the Class B Floating Rate
                    Asset Backed  Certificates,  Series 2001-5,  of the American
                    Express Credit Account Master Trust.

               7.   Form 8-K,  dated May 9, 2001,  attaching  the Series  2001-5
                    Supplement,  dated  as of May  9,  2001,  supplementing  the
                    Pooling and Servicing  Agreement,  dated as of May 16, 1996.

               8.   Form  8-K,  dated  May  15,  2001,   attaching  the  Monthly
                    Servicer's  Certificate  for the due period  March 27,  2001
                    through April 25, 2001.

               9.   Form 8-K,  dated June 4,  2001,  attaching  the Series  Term
                    Sheet,  dated  June 4, 2001,  which sets forth the  proposed
                    issuances  of  the  Class  A  Floating   Rate  Asset  Backed
                    Certificates,  Series 2001-6,  and the Class B Floating Rate
                    Asset Backed  Certificates,  Series 2001-6,  of the American
                    Express Credit Account Master Trust.

               10.  Form 8-K,  dated June 12, 2001,  attaching the Series 2001-6
                    Supplement,  dated as of June 12,  2001,  supplementing  the
                    Pooling and Servicing  Agreement,  dated as of May 16, 1996.

               11.  Form  8-K,  dated  June  15,  2001,  attaching  the  Monthly
                    Servicer's  Certificate  for the due  period  from April 26,
                    2001 through May 25, 2001.

               12.  Form  8-K,  dated  July  16,  2001,  attaching  the  Monthly
                    Servicer's  Certificate  for the  due  period  May 26,  2001
                    through June 24, 2001.

               13.  Form 8-K,  dated  August 15,  2001,  attaching  the  Monthly
                    Servicer's  Certificate  for the due  period  June 25,  2001
                    through July 25, 2001.

               14.  Form 8-K,  dated August 13, 2001,  attaching the Series Term
                    Sheet,  dated August 13, 2001, which sets forth the proposed
                    issuances  of  the  Class  A  Floating   Rate  Asset  Backed
                    Certificates,  Series 2001-7,  and the Class B Floating Rate
                    Asset Backed  Certificates,  Series 2001-7,  of the American
                    Express Credit Account Master Trust.

               15.  Form 8-K, dated July 18, 2001, attaching Assignment No. 7 of
                    Receivables  in  Additional  Accounts,  dated as of July 18,
                    2001,  among  American  Express  Centurion  Bank,   American
                    Express Receivables Financing Corporation II and The Bank of
                    New York.


                                     - 16 -


<PAGE>

               16.  Form 8-K,  dated August 21, 2001,  attaching  Series  2001-7
                    Supplement,  dated as of August 21, 2001,  supplementing the
                    Pooling and Servicing  Agreement,  dated as of May 16, 1996,
                    and announcing that on August 21, 2001, the American Express
                    Credit  Account  Master Trust  issued Class A Floating  Rate
                    Asset  Backed  Certificates,   Series  2001-7  and  Class  B
                    Floating Rate Asset Backed Certificates, Series 2001-7.

               17.  Form 8-K,  dated  September 17, 2001,  attaching the Monthly
                    Servicer's  Certificate  for the due  period  July 26,  2001
                    through August 24, 2001.

               18.  Form 8-K,  dated  October 15,  2001,  attaching  the Monthly
                    Servicer's  Certificate  for the due period  August 25, 2001
                    through September 24, 2001.

               19.  Form 8-K,  dated  November 15, 2001,  attaching  the Monthly
                    Servicer's Certificate for the due period September 25, 2001
                    through October 25, 2001.

               20.  Form 8-K,  dated  December 17, 2001,  attaching  the Monthly
                    Servicer's  Certificate  for the due period October 26, 2001
                    through November 25, 2001.

               21.  Form 8-K,  dated  January 15,  2002,  attaching  the Monthly
                    Servicer's  Certificate for the due period November 26, 2001
                    through December 25, 2001.

               22.  Form 8-K, dated January 25, 2002, attaching Assignment No. 8
                    of Receivables in Additional  Accounts,  dated as of January
                    25, 2002,  among American Express  Centurion Bank,  American
                    Express Receivables Financing Corporation II and The Bank of
                    New York.

               23.  Form 8-K, dated February 11, 2002, attaching the Series Term
                    Sheet,  dated  February  11,  2002,  which  sets  forth  the
                    proposed issuances of the Class A Floating Rate Asset Backed
                    Certificates,  Series 2002-1,  and the Class B Floating Rate
                    Asset Backed  Certificates,  Series 2002-1,  of the American
                    Express Credit Account Master Trust.

               24.  Form 8-K,  dated  February 15, 2002,  attaching  the Monthly
                    Servicer's  Certificate for the due period December 26, 2001
                    through January 25, 2002.

               25.  Form 8-K,  dated  February  21, 2002,  attaching  the Series
                    2002-1   Supplement,   dated  as  of  February   21,   2002,
                    supplementing the Pooling and Servicing Agreement,  dated as
                    of May 16, 1996 and  announcing  that on February  21, 2002,
                    the  American  Express  Credit  Account  Master Trust issued
                    Class A Floating  Rate  Asset  Backed  Certificates,  Series
                    2002-1 and Class B Floating Rate Asset Backed  Certificates,
                    Series 2002-1.

               26.  Form  8-K,  dated  March 15,  2002,  attaching  the  Monthly
                    Servicer's  Certificate  for the due period January 26, 2002
                    through February 24, 2002.



         (c)   Exhibits:

               4.1  Pooling and  Servicing  Agreement,  dated as of May 16, 1996
                    (incorporated  by  reference  to Exhibit  4.1 of Form 8-A12G
                    filed by registrant on May 30, 1996, File No. 000-20787).

               4.2  First  Amendment  to the  Pooling and  Servicing  Agreement,
                    dated  as of  March  30,  2001,  amending  the  Pooling  and
                    Servicing Agreement,  dated as of May 16, 1996 (incorporated
                    by reference  to Exhibit 5.2 of Form 8-K,  dated as of March
                    30, 2001, 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,  dated as of July
                    15, 1996, File No. 000-20787).


                                     - 17 -
<PAGE>


               4.4  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 as of August 15, 1997, File No. 000-20787).

               4.5  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 as of September  1, 1999,  File No.
                    000-20787).

               4.6  Assignment  No. 4 of  Receivables  in  Additional  Accounts,
                    dated as of May 19,  2000,  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 99.01 of Form
                    8-K, dated as of May 19, 2000,  File No. 000-20787).

               4.7  Assignment  No. 5 of  Receivables  in  Additional  Accounts,
                    dated as of August 8, 2000,  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 99.01 of Form
                    8-K, dated as of August 8, 2000, File No. 000-20787).

               4.8  Assignment  No. 6 of  Receivables  in  Additional  Accounts,
                    dated as of March 2,  2001,  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 99.01 of Form
                    8-K, dated as of March 27, 2001, File No. 000-20787).

               4.9  Assignment  No. 7 of  Receivables  in  Additional  Accounts,
                    dated as of July 18,  2001,  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 99.01 of Form
                    8-K, dated as of July 18, 2001, File No. 000-20787).

               4.10 Assignment No. 8 of  Receivables in Additional  Accounts,
                    dated as of January 25, 2002, 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 99.01 of Form
                    8-K,  dated as of January 25, 2002,  File No. 000-20787).

               4.11 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 as of August 15, 1997,  File
                    No. 000-20787).

               4.12 Supplemental  Conveyance  No. 3, 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 as of  September  21, 1999,
                    File No. 000-20787).


                                     - 18 -


<PAGE>


               4.13 Supplemental  Conveyance No. 4, dated as of May 19, 2000, by
                    and between American  Express Credit  Corporation as seller,
                    and American Express Receivables  Financing  Corporation II,
                    as purchaser  (incorporated by reference to Exhibit 99.02 of
                    Form 8-K, dated as of May 19, 2000,  File No. 000-20787).

               4.14 Supplemental  Conveyance  No. 5, dated as of August 8, 2000,
                    by  and  between  American  Express  Credit  Corporation  as
                    seller,   and   American   Express   Receivables   Financing
                    Corporation II, as purchaser  (incorporated  by reference to
                    Exhibit 99.02 of Form 8-K, dated as of August 8, 2000,  File
                    No. 000-20787).

               4.15 Supplemental Conveyance No. 6, dated as of March 2, 2001, by
                    and between American  Express Credit  Corporation as seller,
                    and American Express Receivables  Financing  Corporation II,
                    as purchaser  (incorporated by reference to Exhibit 99.02 of
                    Form 8-K, dated as of March 27, 2001, File No. 000-20787).

               4.16 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  8-A12G,  dated  as of
                    September 16, 1997, File No. 000-20787).

               4.17 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 as of July 15,
                    1998, File No. 000-20787).

               4.18 Series  1999-1  Supplement  to  the  Pooling  and  Servicing
                    Agreement,  dated  as of April  21,  1999  (incorporated  by
                    reference to Exhibit 4.1 of Form  8-A12G,  dated as of April
                    21, 1999, File No. 000-20787).

               4.19 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  8-A12G, dated as of  May
                    19, 1999, File No. 000-20787).

               4.20 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 8-A12G, dated as of May 19,
                    1999, File No. 000-20787).

               4.21 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 8-A12G,  dated as of August
                    17, 1999, File No. 000-20787).

               4.22 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 8-A12G,  dated as of August
                    17, 1999, File No. 000-20787).

               4.23 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  8-A12G,  dated  as of
                    September 16, 1999, File No. 000-20787).

               4.24 Series  2000-1  Supplement  to  the  Pooling  and  Servicing
                    Agreement,  dated as of February 16, 2000  (incorporated  by
                    reference  to Exhibit 4.1 of Form 8-K,  dated as of February
                    16, 2000, File No. 000-20787).

               4.25 Series  2000-2  Supplement  to  the  Pooling  and  Servicing
                    Agreement,  dated as of February 16, 2000  (incorporated  by
                    reference  to Exhibit 4.2 of Form 8-K,  dated as of February
                    16, 2000, File No. 000-20787).


                                     - 19 -


<PAGE>




               4.26 Series  2000-3  Supplement  to  the  Pooling  and  Servicing
                    Agreement,   dated  as  of  May  3,  2000  (incorporated  by
                    reference  to  Exhibit  4.1 of Form 8-K,  dated as of May 3,
                    2000, File No. 000-20787).

               4.27 Series  2000-4  Supplement  to  the  Pooling  and  Servicing
                    Agreement,  dated  as of  June  22,  2000  (incorporated  by
                    reference  to Exhibit 4.2 of Form  8-A12G,  dated as of June
                    22, 2000, File No. 000-20787).

               4.28 Series  2000-5  Supplement  to  the  Pooling  and  Servicing
                    Agreement,  dated as of September 15, 2000  (incorporated by
                    reference  to  Exhibit  4.2  of  Form  8-A12G,  dated  as of
                    September 15, 2000, File No. 000-20787).

               4.29 Series  2001-1  Supplement  to  the  Pooling  and  Servicing
                    Agreement,  dated as of February 23, 2001  (incorporated  by
                    reference  to Exhibit 4.1 of Form 8-K,  dated as of February
                    23, 2001, File No. 000-20787).

               4.30 Series  2001-2  Supplement  to  the  Pooling  and  Servicing
                    Agreement,  dated  as of March  23,  2001  (incorporated  by
                    reference to Exhibit 5.1 of Form 8-K,  dated as of March 23,
                    2001, File No. 000-20787).

               4.31 Series  2001-3  Supplement  to  the  Pooling  and  Servicing
                    Agreement,  dated  as of  April  3,  2001  (incorporated  by
                    reference to Exhibit 5.1 of Form 8-K,  dated as of March 30,
                    2001, File No. 000-20787).

               4.32 Series  2001-4  Supplement  to  the  Pooling  and  Servicing
                    Agreement,  dated  as of April  19,  2001  (incorporated  by
                    reference to Exhibit 5.1 of Form 8-K,  dated as of April 19,
                    2001, File No. 000-20787).

               4.33 Series  2001-5  Supplement  to  the  Pooling  and  Servicing
                    Agreement,   dated  as  of  May  9,  2001  (incorporated  by
                    reference  to  Exhibit  5.1 of Form 8-K,  dated as of May 9,
                    2001, File No. 000-20787).

               4.34 Series  2001-6  Supplement  to  the  Pooling  and  Servicing
                    Agreement,  dated  as of  June  12,  2001  (incorporated  by
                    reference  to Exhibit 5.1 of Form 8-K,  dated as of June 12,
                    2001, File No. 000-20787).

               4.35 Series  2001-7  Supplement  to  the  Pooling  and  Servicing
                    Agreement,  dated as of August  21,  2001  (incorporated  by
                    reference to Exhibit 5.1 of Form 8-K, dated as of August 21,
                    2001, File No. 000-20787).

               4.36 Series  2002-1  Supplement  to  the  Pooling  and  Servicing
                    Agreement,  dated as of  February 21, 2002  (incorporated by
                    reference  to Exhibit 5.1 of Form 8-K,  dated as of February
                    21, 2002, File No. 000-20787).

               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  Aggregate  Information  for  the
                    Fiscal Year.


                                     - 20 -
<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/ Daniel L. Follett
                                        ------------------------------------
                                        Daniel L. Follett
                                        Chief Financial Officer
                                        (Principal Accounting Officer)


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

               *
--------------------------------
Ashwini Gupta                               Director and Chairman

               *
--------------------------------
David E. Poulsen                            Director, President and
                                            Chief Executive Officer
               *
 --------------------------------
Maria J. Garciaz                            Director

               *
--------------------------------
Bill Isaac                                  Director

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

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

               *
--------------------------------
Frank L. Skillern                           Director

               *
--------------------------------
Jay Stevelman                               Director

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



* By: /s/ John Hobby
       ------------------------
       John Hobby
       Attorney-in-Fact


Dated:  March 28, 2002


<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 and Exchange Act of 1934,
this  report  has  been  signed  by the  following  persons  in  the  capacities
indicated.



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


               *
------------------------------------
John D. Koslow                              Vice President and Treasurer
                                            (Principal Finance Officer and
                                            Principal Accounting Officer)
                                            Director
               *
------------------------------------
Donald J. Puglisi                           Director



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






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


Dated:  March 28, 2002


<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-A12G  filed by  registrant  on May 30,
     1996, File No. 000-20787).

4.2  First Amendment to the  Pooling and Servicing Agreement,  dated as of March
     30, 2001, amending the Pooling and Servicing Agreement, dated as of May 16,
     1996  (incorporated  by  reference  to Exhibit 5.2 of Form 8-K, dated as of
     March 30, 2001, 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,  dated of as July
     15, 1996, File No. 000-20787).

4.4  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 as of August 15, 1997, File No. 000-20787).

4.5  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 as of September 1, 1999, File No. 000-20787).

4.6  Assignment No. 4 of Receivables in Additional Accounts, dated as of May 19,
     2000, 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 99.01 of Form 8-K,
     dated as of May 19, 2000, File No. 000-20787).

4.7  Assignment No. 5 of Receivables in Additional Accounts,  dated as of August
     8, 2000, 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 99.01 of Form 8-K,
     dated as of August 8, 2000, File No. 000-20787).

4.8  Assignment No. 6 of Receivables in Additional  Accounts,  dated as of March
     2, 2001, 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 99.01 of Form 8-K,
     dated as of March 27, 2001, File No. 000-20787).

4.9  Assignment No. 7 of Receivables  in Additional  Accounts,  dated as of July
     18, 2001, 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 99.01 of Form 8-K,
     dated as of July 18, 2001, File No. 000-20787).

4.10 Assignment No. 8 of Receivables in Additional Accounts, dated as of January
     25, 2002, 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 99.01 of Form 8-K,
     dated as of January 25, 2002, File No. 000-20787).


4.11 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 as of August 15, 1997,  File
     No. 000-20787).


<PAGE>




4.12 Supplemental  Conveyance  No. 3, 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 as of September 21, 1999, File
     No. 000-20787).

4.13 Supplemental  Conveyance  No. 4, dated as of May 19,  2000,  by and between
     American  Express  Credit  Corporation  as  seller,  and  American  Express
     Receivables  Financing  Corporation  II,  as  purchaser   (incorporated  by
     reference to Exhibit 99.02 of Form 8-K, dated as of May 19, 2000,  File No.
     000-20787).

4.14 Supplemental  Conveyance  No. 5, dated as of August 8, 2000, by and between
     American  Express  Credit  Corporation  as  seller,  and  American  Express
     Receivables  Financing  Corporation  II,  as  purchaser   (incorporated  by
     reference to Exhibit 99.02 of Form 8-K, dated as of May 19, 2000,  File No.
     000-20787).

4.15 Supplemental  Conveyance  No. 6, dated as of March 2, 2001,  by and between
     American  Express  Credit  Corporation  as  seller,  and  American  Express
     Receivables  Financing  Corporation  II,  as  purchaser   (incorporated  by
     reference to Exhibit  99.02 of Form 8-K,  dated as of March 27, 2001,  File
     No. 000-20787).

4.16 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
     8-A12G, dated as of September 16, 1997, File No. 000-20787).

4.17 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 as of July 15, 1998, File No. 000-20787).

4.18 Series 1999-1 Supplement to the Pooling and Servicing  Agreement,  dated as
     of April 21, 1999 (incorporated by reference to Exhibit 4.1 of Form 8-A12G,
     dated as of April 21, 1999, File No. 000-20787).

4.19 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 8-A12G,
     dated as of May 19, 1999, File No. 000-20787).

4.20 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 8-A12G,
     dated as of May 19, 1999, File No. 000-20787).

4.21 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
     8-A12G, dated as of August 17, 1999, File No. 000-20787).

4.22 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 8-A12G,
     dated as of August 17, 1999, File No. 000-20787).

4.23 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
     8-A12G, dated as of September 16, 1999, File No. 000-20787).


<PAGE>




4.24 Series 2000-1 Supplement to the Pooling and Servicing  Agreement,  dated as
     of February 16, 2000 (incorporated by reference to Exhibit 4.1 of Form 8-K,
     dated as of February 16, 2000, File No. 000-20787).

4.25 Series 2000-2 Supplement to the Pooling and Servicing  Agreement,  dated as
     of February 16, 2000 (incorporated by reference to Exhibit 4.2 of Form 8-K,
     dated as of February 16, 2000, File No. 000-20787).

4.26 Series 2000-3 Supplement to the Pooling and Servicing  Agreement,  dated as
     of May 3, 2000 (incorporated by reference to Exhibit 4.1 of Form 8-K, dated
     as of May 3, 2000, File No. 000-20787).

4.27 Series 2000-4 Supplement to the Pooling and Servicing  Agreement,  dated as
     of June 22, 2000  (incorporated by reference to Exhibit 4.2 of Form 8-A12G,
     dated as of June 22, 2000, File No. 000-20787).

4.28 Series 2000-5 Supplement to the Pooling and Servicing  Agreement,  dated as
     of  September  15, 2000  (incorporated  by reference to Exhibit 4.2 of Form
     8-A12G, dated as of September 15, 2000, File No. 000-20787).

4.29 Series 2001-1 Supplement to the Pooling and Servicing  Agreement,  dated as
     of February 23, 2001 (incorporated by reference to Exhibit 4.1 of Form 8-K,
     dated as of February 23, 2001, File No. 000-20787).

4.30 Series 2001-2 Supplement to the Pooling and Servicing  Agreement,  dated as
     of March 23, 2001  (incorporated  by  reference to Exhibit 5.1 of Form 8-K,
     dated as of March 23, 2001, File No. 000-20787).

4.31 Series 2001-3 Supplement to the Pooling and Servicing  Agreement,  dated as
     of April 3, 2001  (incorporated  by  reference  to Exhibit 5.1 of Form 8-K,
     dated as of March 30, 2001, File No. 000-20787).

4.32 Series 2001-4 Supplement to the Pooling and Servicing  Agreement,  dated as
     of April 19, 2001  (incorporated  by  reference to Exhibit 5.1 of Form 8-K,
     dated as of April 19, 2001, File No. 000-20787).

4.33 Series 2001-5 Supplement to the Pooling and Servicing  Agreement,  dated as
     of May 9, 2001 (incorporated by reference to Exhibit 5.1 of Form 8-K, dated
     as of May 9, 2001, File No. 000-20787).

4.34 Series 2001-6 Supplement to the Pooling and Servicing  Agreement,  dated as
     of June 12, 2001  (incorporated  by  reference  to Exhibit 5.1 of Form 8-K,
     dated as of June 12, 2001, File No. 000-20787).

4.35 Series 2001-7 Supplement to the Pooling and Servicing  Agreement,  dated as
     of August 21, 2001  (incorporated  by reference to Exhibit 5.1 of Form 8-K,
     dated as of August 21, 2001, File No. 000-20787).

4.36 Series 2002-1 Supplement to the Pooling and Servicing  Agreement,  dated as
     of February 21, 2002 (incorporated by reference to Exhibit 5.1 of Form 8-K,
     dated as of February 21, 2002, File No. 000-20787).

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).


<PAGE>


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 Aggregate Information for the Fiscal Year.