American Express Credit 10-Q 2007 Q1 Quarterly report

EXHIBIT 12.1

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

		Three Months Ended
		March 31,				Years Ended December 31,
		2007		2006		2006		2005		2004		2003
Earnings:
Net income	$	172	$	126	$	622	$	415	$	234	$	260
Income tax provision		23		18		95		50		75		135
Interest expense		492		355		1,614		1,141		863		852
Total earnings (a)	$	687	$	499	$	2,331	$	1,606	$	1,172	$	1,247
Fixed charges -
interest expense (b)	$	492	$	355	$	1,614	$	1,141	$	863	$	852
Ratio of earnings
to fixed charges (a/b)		1.40		1.41		1.44		1.41		1.36		1.46