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Pricing Supplement No. 53     Dated:  April 14, 2003              Rule 424(b)(2)
(To Prospectus dated January 31, 2003 and Prospectus Supplement dated
February 5, 2003)             File No. 333-102373

                                   This Pricing Supplement consists of 3 page(s)

AMERICAN EXPRESS CREDIT CORPORATION
Medium-Term Senior Notes, Series B
Due Nine Months or More from Date of Issue

Principal Amount or Face Amount:  $25,000,000.00

Issue Price:  100.00

Proceeds to Company on original issuance:  $25,000,000.00

Commission:  $00.00

Agent: [ ] ABN AMRO Incorporated             [ ] Wachovia Securities Inc.
       [ ] Banc of America Securities LLC    [ ] J.P. Morgan Securities Inc.
       [ ] Banc One Capital Markets Inc.     [ ] Lehman Brothers Inc.
       [ ] Barclays Capital Inc.             [ ] Salomon Smith Barney Inc.
       [ ] BNP Paribas Securities Corp.      [ ] Utendahl Capital Partners, L.P.
       [ ] Credit Suisse First Boston        [ ] Other: Direct Corporation
       [ ] Deutsche Bank Securities Inc.


Agent's capacity on original issuance:      [ ] As Agent
                                            [ ] As principal

If as principal:
         [ ] The Notes are being offered at varying prices related to
                 prevailing market prices at the time of resale.
         [ ] The Notes are being offered at a fixed initial public
                 offering price 100% of Principal Amount or Face Amount.

Form of Note: [X] Global  [ ] Definitive

Original Issue Date: April 17, 2003

Stated Maturity:  April 18, 2005

Specified Currency (If other than U.S. Dollars):

Authorized Denominations (If other than as set forth in the Prospectus
Supplement):

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Interest Payment Dates:  Monthly on the 18th day of the month
First Interest Payment Date:  May 19, 2003
Accrue to Pay:  [X] Yes  [ ] No
Indexed Principal Note: [ ]  Yes (See Attached)   [X] No
Type of Interest Rate: [ ] Fixed Rate  [x] Floating Rate
                       [ ] Indexed Rate (See Attached)
Interest Rate (Fixed Rate Notes):
Initial Interest Rate (Floating Rate Notes): 1.42%
Base Rate:        [ ] CD Rate              [ ] Commercial Paper Rate
                  [ ] EURIBOR              [ ] Federal Funds Rate
                  [X] LIBOR                [ ] Treasury Rate
                  [ ] Prime Rate           [ ] Other (See Attached)
Calculation Agent:  Bank One Trust Company, N.A.

Computation of Interest (If other than as set forth in the
Prospectus Supplement):
         [ ] 30 over 360            [ ] Actual over Actual
         [X] Actual over 360        [ ] Other (See Attached)

Interest Reset Dates:  Monthly on the 18th day of the month
Rate Determination Dates (If other than as set forth in the Prospectus
Supplement):
Index Maturity: One Month
Spread (+/-):  +10.0 basis points
Spread Multiplier: none
Change in Spread, Spread Multiplier or Fixed Interest Rate prior to
Stated Maturity:
                  [ ] Yes (See Attached)   [X] No
Maximum Interest Rate: none
Minimum Interest Rate: none

Amortizing Note:  [ ] Yes (See Attached)   [X] No

Optional Redemption: [ ] Yes   [X] No
         Optional Redemption Dates:
         Redemption Prices:
         Redemption: [ ] In whole only and not in part
                     [ ] May be in whole or in part

Optional Repayment:  [ ] Yes   [X] No
         Optional Repayment Dates:
         Optional Repayment Prices:

Discount Note:   [ ] Yes   [X] No
         Total Amount of OID:
         Bond Yield to Call:
         Bond Yield to Maturity:
         Yield to Maturity:

CUSIP: 0258M0AX7

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DESCRIPTION OF THE NOTES:

         The description in this Pricing Supplement of the particular terms of
the Medium-Term Senior Notes offered hereby supplements, and to the extent
inconsistent therewith replaces, the description of the general terms and
provisions of the Notes set forth in the accompanying Prospectus and Prospectus
Supplement, to which reference is hereby made.


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