EXHIBIT 12.1

AMERICAN EXPRESS CREDIT CORPORATION COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES

	Years Ended December 31,
(Dollars in Millions)	2017				2016			2015			2014				2013
Earnings:
Net (loss) income		$	(603	)		$	197		$	214		$	353			$	446
Income tax provision (benefit)			878				15			38			(35	)			(96	)
Interest expense including interest expense to affiliates			553				341			360			502				597
Total earnings		$	828			$	553		$	612		$	820			$	947
Fixed charges ― Interest expense including interest expense to Affiliates		$	553			$	341		$	360		$	502			$	597
Ratio of earnings to fixed charges			1.50				1.62			1.70			1.63				1.59

Interest expense does not include interest on liabilities recorded under GAAP governing accounting for uncertainty in income taxes as Credco’s policy is to classify such interest in income tax provision in the Consolidated Statements of Income.