EXHIBIT 12.1

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

	Years Ended December 31,
(Dollars in Millions)	2016		2015		2014			2013			2012
Earnings:
Net income	$	197	$	214	$	353		$	446		$	339
Income tax provision (benefit)		15		38		(35	)		(96	)		(51	)
Interest expense including interest expense to affiliates		341		360		502			597			749
Total earnings	$	553	$	612	$	820		$	947		$	1,037
Fixed charges ― Interest expense including interest expense to affiliates	$	341	$	360	$	502		$	597		$	749
Ratio of earnings to fixed charges		1.62		1.70		1.63			1.59			1.38

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.