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                                  EXHIBIT 12.1
                      AMERICAN EXPRESS CREDIT CORPORATION
          COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES
                                   (millions)


                                        Year Ended December 31,
                                        -----------------------

                                  ____________________________________
                                  1995    1994    1993    1992    1991
                                  ----    ----    ----    ----    ----
   Earnings:
   Income before extraordinary   
     charge                     $  197   $ 139   $ 137   $ 138   $ 174
   Income tax provision            105      75      64      70      87
   Interest expense              1,054     736     599     728     946
                                 -----   -----   -----   -----   -----

   Total earnings               $1,356   $ 950   $ 800   $ 936  $1,207  
                                 =====   =====   =====   =====   =====

   Fixed charges -                                                    
   interest expense             $1,054   $ 736   $ 599   $ 728  $  946
                                 =====   =====   =====   =====   =====

   Ratio of earnings to    
     fixed charges                1.29    1.29    1.34*   1.29    1.28


   Note: Gross rentals on long-term leases were minimal in amount in each
         of the periods shown.

      *  The ratio of earnings to fixed charges calculated in accordance
         with the Receivables Agreements after the impact of the
         extraordinary charge of $34 million (pretax) was 1.28.
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                                  EXHIBIT 12.2
                            AMERICAN EXPRESS COMPANY
          COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES
                                   (millions)

                                   Year Ended December 31,
                                   -----------------------
                                  ____________________________________
                                  1995    1994    1993    1992    1991
                                  ----    ----    ----    ----    ----
   Earnings:
   Pretax income from
     continuing operations      $2,183  $1,891  $2,326  $  896   $  622
   Interest expense              2,343   1,925   1,776   2,171    2,761
   Other adjustments                95     103      88     196      142
                                 -----   -----   -----   -----    -----
   Total earnings (a)           $4,621  $3,919  $4,190  $3,263   $3,525
                                 =====   =====   =====   =====    =====

   Fixed charges:
     Interest expense           $2,343  $1,925  $1,776  $2,171   $2,761
     Other adjustments             135     142     130     154      147
                                 -----   -----   -----   -----    -----
   Total fixed charges (b)      $2,478  $2,067  $1,906  $2,325   $2,908
                                 =====   =====   =====   =====    =====   

   Ratio of earnings to
    fixed charges (a/b)           1.86    1.90    2.20    1.40     1.21

  Included in interest expense in the above computation is interest expense
  related to the international banking operations of American Express and TRS'
  Cardmember lending activities, which is netted against interest and dividends
  and Cardmember lending net finance charge revenue, respectively, in the 
  Consolidated Statement of Income of American Express.

  For purposes of the ``earnings'' computation, other adjustments include
  adding the amortization of capitalized interest, the net loss of affiliates
  accounted for at equity whose debt is not guaranteed by American Express,
  the minority interest in the earnings of majority-owned subsidiaries with
  fixed charges, and the interest component of rental expense and subtracting
  undistributed net income of affiliates accounted for at equity.

  For purposes of the ``fixed charges'' computation, other adjustments
  include capitalized interest costs and the interest component of rental
  expense.

  On May 31, 1994, American Express completed the spin-off of Lehman Brothers
  through a dividend to American Express common shareholders.  Accordingly,
  Lehman Brothers' results are reported as a discontinued operation and are
  excluded from the above computation for all periods presented.  In March
  1993, American Express reduced its ownership in First Data Corporation to
  approximately 22 percent through a public offering.  As a result, beginning
  in 1993, FDC was reported as an equity investment in the above computation.
  In the fourth quarter of 1995, American Express' ownership was further
  reduced to approximately 10 percent as a result of shares issued by FDC in
  connection with a merger transaction.  Accordingly, as of December 31,
  1995, American Express' investment in FDC is accounted for as Investments -
  Available for Sale.
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