Exhibit 12.1

VISA INC.

COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES

(in millions)	Year Ended September 30, (1)										Six Months Ended March 31,
	2008		2007		2006		2005		2004		2009
Earnings:
Income before income taxes and minority interest	1,335		(1,387	)	722		456		355		1,840
Fixed charges	152		85		94		112		113		64
Other adjustments	(8	)	(41	)	(14	)	(31	)	(21	)	(2	)
Total earnings (a)	1,479		(1,343	)	802		537		447		1,902
Fixed charges:
Interest expense	143		81		90		109		111		60
Interest capitalized and estimate of interest in rental expense	9		4		4		3		2		4
Total fixed charges (b)	152		85		94		112		113		64
Ratio of earnings to fixed charges (a/b)(2)	9.8		(15.8	)	8.6		4.8		3.9		29.6

⁽¹⁾ Historical balances prior to October 1, 2007 represent balances for Visa U.S.A. Inc., the accounting acquirer in the Visa Inc. business combination.

In computing the ratio of earnings to fixed charges, “earnings” consist of income before income taxes and minority interest, fixed charges and other adjustments.

For purposes of computing “earnings”, other adjustments include subtracting the equity in earnings of unconsolidated affiliates, interest capitalized and the minority interest of subsidiaries that have not incurred fixed charges.

“Fixed charges” include interest expense which primarily consists of accretion on litigation matters. Fixed charges also include interest capitalized and an estimate of the interest component of rental expense.

⁽²⁾ Ratio is computed based on whole numbers, not rounded numbers.