UNITED STATES
             SECURITIES AND EXCHANGE COMMISSION
                   WASHINGTON, D.C. 20549

                          FORM 8-K

   CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
              SECURITIES EXCHANGE ACT OF 1934

 Date of Report (Date of earliest event reported)     April
                          20, 1998

                   IBM CREDIT CORPORATION
     _________________________________________________
     (Exact Name of Registrant as Specified in Charter)


       Delaware                  1-8175           22-2351962
____________________________  _____________  _____________________
(State or Other Jurisdiction  (Commission     (IRS Employer
   of Incorporation)           File Number)    Identification No.)

    1133 Westchester Avenue, Room 3C2108
          White Plains, New York                   10604
__________________________________________      ___________
  (Address of Principal Executive Offices)       (Zip Code)

Registrant's telephone number, including area code (914) 642-3000

                       Not Applicable
_____________________________________________________________
   (Former Name or Former Address, if changed Since Last
                          Report)


                            -  -









Item 5.  Other Events

The Registrant's press release dated April 20, 1998, regarding
its financial results and selected balance sheet information
as of and for the period ended March 31, 1998, is attached.

                         SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duty authorized.


                                         IBM CREDIT CORPORATION
                                             (Registrant)

                                     By:
                                        /s/    Michael J. Twomey
                                        ______________________________
                                        Name:  Michael J. Twomey
Date:  April 23, 1998                   Title: Controller and Treasurer



































                            -  -











      IBM CREDIT CORPORATION REPORTS FIRST-QUARTER 1998 RESULTS


  WHITE  PLAINS,  New  York, April 20, 1998 . . . IBM Credit
Corporation today reported first-quarter 1998  net  earnings
of  $75.7  million,  a  decrease of 4 percent, compared with
$79.2 million for the same 1997 period.

  New financing originations for commercial  and  government
customers  acquiring computer hardware and other information
technology products and services in  the  first  quarter  of
1998  increased by 2 percent to $1.35 billion, compared with
$1.32 billion for  the  first  three  months  of  1997.  New
financing   originations   providing   distribution  channel
partners with working capital  for  inventory  and  accounts
receivable  rose  3  percent  to  $3.21 billion in the first
quarter of 1998, compared with $3.13 billion  for  the  same
1997 period.

  At  March  31,  1998,  total  assets  were  $15.7 billion,
compared with $16.6 billion at December 31, 1997, a decrease
of 5 percent. Retained earnings  at  March  31,  1998,  were
$1.26  billion,  compared with $1.21 billion at December 31,
1997, an increase of 4 percent. The return on average equity
was 17.9 percent, compared with 22.1 percent  in  the  first
quarter of 1997.

  IBM  Credit  Corporation in the United States, and the IBM
Global Financing organizations worldwide,  offer  businesses
of  all  sizes leasing and financing for technology acquired
from IBM or remarketers.  IBM  Credit  and  the  IBM  Global
Financing organizations also offer customers in more than 40
countries  a  broad  array  of asset management services and
provide remarketers with inventory and  accounts  receivable
financing.    Visit  the  IBM  Global Financing home page at
www.financing.ibm.com




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