RULE 424(b)(2)
                                             REGISTRATION NO. 33-56207


PRICING SUPPLEMENT NO. 49         TO PROSPECTUS DATED NOVEMBER 3, 1994
                                   (As supplemented November 17, 1994)


                        IBM CREDIT CORPORATION

                          MEDIUM-TERM NOTES

                         (Floating Rate Note)

          (Due from 9 months to 30 years from date of issue)


Designation:  Floating Rate                      Original Issue Date:
  Medium-Term Notes Due October 2, 1996            October 2, 1995

Principal Amount:  $50,000,000                   Maturity Date:
                                                   October 2, 1996


Issue Price (as a percentage of                  Regular Record Dates:
  Principal Amount):  100%                         Fifteenth calendar day
                                                   whether or not a
                                                   Business Day prior to
                                                   the corresponding
                                                   Interest Payment Date


Interest Rate Base:  LIBOR                       Interest Payment Date:
                                                   October 2, 1996, the
Designated LIBOR Page:  Telerate                   Maturity Date
 Page 3750

Spread:  Plus 4 basis points

Initial Interest Rate:  5.95%                    Interest Reset Dates:
                                                   January 2, 1996, April
                                                   2, 1996 and July 2, 1996
                                       
                                                 Interest Reset Period:
                                                   Quarterly, commencing
                                                   with and including each
Maximum Interest Rate:  5.95%                      Interest Reset Date, to,
                                                   but excluding, the
Redemption Provisions:  None                       immediately following
                                                   Interest Reset Date

Commission or Discount (as a percentage          CUSIP:  44922L W77
  of Principal Amount): 0.02%

Index Maturity:  3 months                        Form:  [X] Book-Entry
                                                        [ ] Certificated

     This Pricing Supplement supplements and, to the extent inconsistent
therewith, amends the description of the Notes referred to above in the
accompanying Prospectus Supplement and Prospectus.








                               INTEREST

          The Notes will bear interest at a rate reset on the Interest
Reset Dates specified above. The interest rate in effect from the
original Issue Date to the first Interest Reset Date with respect to
the Notes will be the Initial Interest Rate. Thereafter, the interest
rate per annum on the Notes for each Interest Reset Period will be
determined as LIBOR plus a spread of 4 basis points, subject to the
Maximum Interest Rate of 5.95%.

          Interest on the Notes will be calculated based on the actual
number of days elapsed over a year of 360 days. The initial
Calculation Agent with respect to the Notes will be Morgan Stanley &
Co. Incorporated.

          If any Interest Payment Date or any Interest Reset Date
would otherwise be a day that is not a Business Day, such date will be
postponed to the next day that is a Business Day, unless that day
falls in the next calendar month, in which case such date will be
advanced to the first preceding day that is a Business Day. For
purposes of the offering made hereby, "Business Day" as used herein
and in the accompanying Prospectus Supplement means any day on which
commercial banks and foreign exchange markets settle payments in The
City of New York which also is a London Banking Day. Capitalized terms
used but not defined herein have the meanings assigned in the
accompanying Prospectus Supplement and Prospectus.

                         PLAN OF DISTRIBUTION

          The Notes will be sold to Morgan Stanley & Co. Incorporated
for resale to one or more investors at a fixed public offering price.
After the initial public offering of the Notes, the public offering
price and any concession or discount may be changed.

Dated:  September 22, 1995