EXHIBIT
12.2
AMERICAN EXPRESS COMPANY
COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES(Dollars in millions)

|                                          |  |                          |       |      |   |        |  |      |       |      |   |       |  |   |       | 
|----------------------------------------- |  | ------------------------ | ----- | ---- | - | ------ |  | ---- | ----- | ---- | - | ----- |  | - | ----- | 
|                                          |  | Years Ended December 31, |      
|                                          |  |                          |       |      |   |        |  |      |       |      |  
|                                          |  | 2008                     |       | 2007 |   | 2006   |  | 2005 |       | 2004 |  
|                                          |  |                          |       |      |   |        |  |      |       |      |  
|                                          |  |                          |       |      |   |        |  |      |       |      |   |       |  |   |       | 
|Earnings:                                 |  |                          |       |      |   |        |  |      |       |      |   |       |  |   |       | 
|Pretax income
 from continuing operations |  | $                        | 3,581 |      | $ | 5,694  |  | $    | 5,152 |      | $ | 3,979 |  | $ | 3,610 | 
|Interest expense                          |  |                          | 3,628 |      |   | 4,525  |  |      | 3,258 |      |   | 2,415 |  |   | 1,899 | 
|Other
 adjustments                        |  |                          | 144   |      |   | 143    |  |      | 139   |      |   | 150   |  |   | 151   | 
|                                          |  |                          |       |      |   |        |  |      |       |      |   |       |  |   |       | 
|Total earnings (a)                        |  | $                        | 7,353 |      | $ | 10,362 |  | $    | 8,549 |      | $ | 6,544 |  | $ | 5,660 | 
|                                          |  |                          |       |      |   |        |  |      |       |      |   |       |  |   |       | 
|                                          |  |                          |       |      |   |        |  |      |       |      |   |       |  |   |       | 
|Fixed charges:                            |  |                          |       |      |   |        |  |      |       |      |   |       |  |   |       | 
|Interest expense                          |  | $                        | 3,628 |      | $ | 4,525  |  | $    | 3,258 |      | $ | 2,415 |  | $ | 1,899 | 
|Other
 adjustments                        |  |                          | 114   |      |   | 106    |  |      | 106   |      |   | 151   |  |   | 145   | 
|                                          |  |                          |       |      |   |        |  |      |       |      |   |       |  |   |       | 
|Total fixed charges (b)                   |  | $                        | 3,742 |      | $ | 4,631  |  | $    | 3,364 |      | $ | 2,566 |  | $ | 2,044 | 
|                                          |  |                          |       |      |   |        |  |      |       |      |   |       |  |   |       | 
|                                          |  |                          |       |      |   |        |  |      |       |      |   |       |  |   |       | 
|Ratio of earnings to fixed charges (a/b)  |  |                          | 1.96  |      |   | 2.24   |  |      | 2.54  |      |   | 2.55  |  |   | 2.77  | 
|                                          |  |                          |       |      |   |        |  |      |       |      |   |       |  |   |       | 

Included in interest expense in
the above computation is interest expense related to the cardmember lending
activities, international banking operations, and charge card and other
activities in the Consolidated Statements of Income. Interest expense does not
include interest on liabilities recorded under Financial Accounting Standards
Board (FASB) Financial
Interpretation No. 48, Accounting for Uncertainty in Income Taxes  an
interpretation of FASB Statement No. 109. American Express policy is to
classify such interest in income tax provision in the Consolidated Statements
of Income.

For purposes of the earnings
computation, other adjustments include adding the amortization of capitalized
interest, the net loss of affiliates accounted for under the equity method
whose debt is not guaranteed by the Company, 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 under the equity method.

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

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