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American Express Centurion Bank (949348) SEC Filing 8-K Material Event for the period ending Monday, May 16, 2005

American Express Centurion Bank

CIK: 949348

EX-99.1
4
b406643_ex99-1.txt
MONTHLY SERVICER'S CERTIFICATE



                                                                    EXHIBIT 99.1




                         Monthly Servicer's Certificate
             American Express Travel Related Services Company, Inc.

             ------------------------------------------------------
                          American Express Master Trust
             ------------------------------------------------------


     The  undersigned,  a duly  authorized  representative  of American  Express
     Travel Related Services Company,  Inc. ("TRS"), as Servicer pursuant to the
     Amended and Restated  Master  Pooling and Servicing  Agreement  dated as of
     April  16,   2004,(the   "Agreement"),   as   supplemented  by  the  Series
     Supplements,   amongst  TRS,   American   Express   Receivables   Financing
     Corporation ("RFC"),  American Express Centurion Bank ("AECB") and American
     Express Bank,  FSB ("FSB"),  as  Transferors,  and The Bank of New York, as
     Trustee, does hereby certify the information set forth below.

1.   Capitalized  terms used in this Certificate have their respective  meanings
     as set forth in the Agreement or Series Supplement as applicable; provided,
     that the  "preceding  Due  Period"  shall mean the Due  Period  immediately
     preceding the calendar month in which this  Certificate is delivered.  This
     certificate is delivered  pursuant to subsection 3.04 (c) of the Agreement.
     References herein to certain sections and subsections are references to the
     respective sections and subsections in the Agreement.

2.   TRS is Servicer under the Agreement.

3.   The undersigned is a Servicing Officer.

4.   This Certificate relates to the Distribution Date occurring on May 16, 2005
     and related due period from March 26, 2005 through April 24, 2005 .


A.   Information Regarding the American Express Master Trust

1.   Trust Principal Component as of the
     end of the preceding Due Period.....                   $6,073,343,739.78

2.   Aggregate Invested Amounts as of the end of the
     preceding Due Period.....                              $1,081,081,081.00

3.   Transferor Amount as of the end of the
     preceding Due Period.....                              $4,992,262,658.78

4.(a)Transferor Percentage as of the
     end of the second preceding Due Period                          81.1969%

4.(b)Transferor Percentage as of the end of the
     preceding Due Period.....                                       82.1996%

5.   Aggregate Excess Principal Collections for the
     preceding Due Period.....                                $937,461,613.23

6.   Aggregate Principal Shortfalls for the
     preceding Due Period.....                                          $0.00


                                     Page 1







                         Monthly Servicer's Certificate
             American Express Travel Related Services Company, Inc.


B.   Information Regarding Performance of the American Express Master Trust
     Receivable Pool

1.   The aggregate Receivable balance as of

  (a)the beginning of the preceding Due Period was
     equal to.....                                          $5,927,307,488.73

  (b)the end of the preceding Due Period was
     equal to.....                                          $6,261,179,113.18

2.   The Yield Factor in effect for the preceding
     Due Period                                                       3.0000%

3.   The aggregate amount of billed Receivables as of the
     beginning of the preceding Due Period was equal to     $5,754,185,440.10

4.(a)The aggregate amount of Collections on Receivables,
     exclusive of recoveries for the preceding Due Period
     was equal to.....                                      $5,132,225,784.73

  (b)The aggregate balance of Receivables
     deposited to the Collection Account
     Pursuant to Sections 2.04 (d) and 3.03
     of the Agreement for the preceding Due Period was equal to         $0.00

5.   The aggregate amount of Principal Collections
     for the preceding Due Period was equal to.....         $4,978,259,011.19

6.   The aggregate amount of Yield Collections
     for the preceding Due Period was equal to.....           $153,966,773.54

7.   Gross Losses
     [The aggregate amount of Receivables for all Accounts
     which became Defaulted Accounts during the
     preceding Due Period] was equal to.....                   $11,159,066.96

8.   The aggregate amount of Recoveries
     for the preceding Due Period was equal to.....             $3,508,353.85

9.(a)Net Losses [Gross Losses, less Recoveries]
     for the preceding Due Period was equal to.....             $7,650,713.11

  (b)The Default Amount [Net Losses, times
     (1 minus the Yield Factor)]
     for the preceding Due Period was equal to.....             $7,421,191.72

10.  Delinquent Balances
     The aggregate amount of outstanding balances in the
     Accounts that was delinquent as of such Accounts'
     cycle billing date occurring during the
     preceding Due Period:
                                                            Aggregate Balance
  (a)   30-59 Days                                             $69,982,361.98
  (b)   60-89 Days                                             $26,959,459.35
  (c)   90-119 Days                                            $15,181,815.48
  (d)   120 days or more                                       $47,091,217.24
        Total                                                 $159,214,854.05


                                     Page 2







                         Monthly Servicer's Certificate
             American Express Travel Related Services Company, Inc.


C.   Information Regarding Performance of the American Express Master Trust
     Receivable Pool (Percentage Basis)

1.   The aggregate amount of Charge Volume and Fees
     for the preceding Due Period.....                      $5,477,256,476.14

2.   Computed yield as a percentage of Charge Volume and Fees
     [Yield Collections for the preceding Due Period
     divided by teh aggregate amount of Charge Volume and Fees
     for the preceding Due Period].....                               2.8110%

3.   Gross Losses as a Percentage of Charge Volume and Fees
     [Gross Losses, divided by the aggregate amount of Charge
     Volume and fees for the preceding Due Period].....               0.2037%

4.   Recovery rate [Recoveries, divided by
     the aggregate amount of Charge Volume and Fees
     for the preceding Due Period].....                               0.0641%

5.   Net Losses as a Percentage of Charge Volume and Fees
     [Net Losses, divided by the aggregate amount of Charge
     Volume and Fees for the preceding Due Period].....               0.1397%

6.   Computed Net Yield as a Percentage of Charge Volume and Fees
     [Yield Collections less Net Losses,
     divided by the aggregate amount of Charge Volume and Fees
     for the preceding Due Period].....                               2.6713%

7.   Average Monthly Payment rate for the Due Period
     [Collections on Receivables, excluding Recoveries
     for the preceding Due Period, divided by the
     aggregate amount of billed Receivables as of
     the beginning of the preceding Due Period].....                 89.1912%

8.   Receivable turnover rate
     Charge Volume and Fees for the previous twelve Due Periods
     divided by the arithmetic average of month-end Receivable
     balances for the previous twelve Due Periods, including the
     Receivable balance at the beginning of such twelve month
     period                                                          10.3694%

9.   Delinquency rates
     [The aggregate amount of outstanding balances in the Accounts
     that were delinquent as of such Accounts' cycle billing date
     occurring during the preceding Due Period, divided by the
     aggregate amount of outstanding balances for all Accounts
     as of such Accounts' cycle billing date occurring during the
     preceding Due Period]:

  (a)   30-59 Days                                                    1.1557%
  (b)   60-89 Days                                                    0.4452%
  (c)   90-119 Days                                                   0.2507%
  (d)   120 or more Days                                              0.7776%




                                     Page 3





                         Monthly Servicer's Certificate
             American Express Travel Related Services Company, Inc.


D.   Information Regarding the Privileged Assets Program

1.   Estimated Trust Privileged Assets Billed Amounts
     for the second preceding Due Period.....                  $16,776,527.00

2.   Privileged Assets Applied Dilution Factor for the
     second preceding Due Period.....                               44.07507%

3.   Privileged Assets Calculated Amount for the
     preceding Due Period.....                                  $7,172,438.00

4.   Trust Principal Component as of the end of the
     preceding Due Period (reduced by the Privileged
     Assets Calculated Amount for the preceding
     Due Period).....                                       $6,066,171,302.00

5.   Minimum Trust Principal Component.....                 $1,161,100,000.00

6.   Transferor Amount (reduced by the Privileged
     Assets Calculated Amount for the preceding
     Due Period) as of the end of the preceding
     Due Period.....                                        $4,985,090,221.00

7.   The Trust Principal Component as of the end
     of the preceding Due Period (reduced by the
     privileged Assets Calculated Amount for the
     preceding Due Period) [Item 4] was not less
     than the Minimum Trust Principal Component [Item 5].                 Yes

8.   Transferor Amount (reduced by the Privileged
     Assets Calculated Amount for the preceding Due
     Period) [Item 6] as a percentage of the Trust Principal
     Component (reduced by the Privileged Assets
     Calculated Amount for the preceding Due Period) [Item 4].         82.18%

9.   The Transferor Amount (reduced by the Privileged
     Assets Calculated Amount for the preceding Due
     Period) [Item 6] was not less than 3.0% of the
     Trust Principal Component (reduced by the Privileged
     Assets Calculated Amount for the preceding Due Period)
     [Item 4].....                                                        Yes




                                     Page 4





                         Monthly Servicer's Certificate
             American Express Travel Related Services Company, Inc.

10.  Estimated Trust Privileged Assets Billed Amounts
     for the second Preceding Due Period [Item 1] as a
     percentage of Trust Principal Component for the
     preceding Due Period (as reduced) [Item 4].....                  0.2770%

11.  Item 10 does not exceed 1% at the same time as
     Item 8 is not less than 17%.                                         Yes

12.  Average of the privileged Assets Monthly Payment
     Rates for the 6 month period ending on the last
     day of the second preceding Due Period.                        85.11721%

13.  Trust Average Monthly Payment Rate for the preceding
     Due Period.                                                     91.3740%

14.  110% of Item 13.....                                           100.5114%

15.  Item 12 is not less than Item 14                                      No

16.  Item 8 is not less than 17%                                          Yes


IN WITNESS WHEREOF,  the undersigned has duly executed this Certificate this 5th
day of May 2005.


                                            American Express
                                            Travel Related Services
                                            Company, Inc.
                                            Servicer,

                                            By:    /s/ Susanne L. Miller
                                                   ---------------------
                                            Name:  Susanne L. Miller
                                            Title: Vice President
                                                   Treasury Controller










                                     Page 5





             ------------------------------------------------------
             American Express Travel Related Services Company, Inc.
                  American Express Master Trust, Series 2002-2
             ------------------------------------------------------
            Schedule - to Monthly Servicer's Certificate with respect
                        To the Series 2002-2 Certificates


A.   Information Regarding American Express Master Trust Series
     2002-2 Allocation Percentages

1.   Floating Allocation Percentage as of the end of
     the Second preceding Due Period.....                            18.8031%

2.   Fixed Allocation Percentage.....                                18.8031%

3.(a)Additional Amounts pursuant to Section 4.03(c)(ii)
     treated as Yield Collections.....                                  $0.00

  (b)Additional Amounts pursuant to Section 4.03(c)(ii)
     treated as Principal Collections.....                              $0.00

4.   The amount of Yield Collections allocable to
     Series 2002-2 [Floating Allocation
     Percentage, times Yield Collections].....                 $28,950,501.04

5.   The amount of Principal Collections allocable to
     Series 2002-2:

  (a)During the Revolving Period [Floating Allocation
     Percentage times Principal Collections], treated
     as Excess Principal Collections.....                               $0.00

  (b)During the Accumulation Period or an Amortization
     Period [Fixed Allocation Percentage, times
     Principal Collections].....                              $936,066,200.35

6.   The Investor Default Amount allocable to
     Series 2002-2 [Floating Allocation
     Percentage, times Default Amount].....                     $1,395,412.88

B.   Information Regarding the Application of Funds on Deposit in
     the Collection Account for the Series 2002-2 Certificates,
     pursuant to Section 4.08 of the Series Supplement

1.   Class A Monthly Interest @ 3.0037%                         $2,586,562.50

2.   Class B Monthly Interest                                     $237,649.21

3.   Investor Monthly Servicing Fee                             $1,801,801.80

4.   Reimbursement of Class A Investor Charge offs                      $0.00

5.   Investor Default Amount                                    $1,395,412.88

6.   Unpaid Class B Interest                                            $0.00

7.   Reimbursement of Class B Investor Charge offs                      $0.00

8.   Funding of Reserve Account                                         $0.00

9.   Excess Yield Collections                                  $22,929,074.65

10.  Funding of Principal Funding Account                     $500,000,000.00


                                     Page 1







             ------------------------------------------------------
             American Express Travel Related Services Company, Inc.
                  American Express Master Trust, Series 2002-2
            ------------------------------------------------------


C.   Information on the Application of Principal
     Collections to the Collection Account
     regarding Series 2002-2 Certificates

1.   Class A Monthly Principal deposited to the
     Collection Account for distribution to
     Class A Certificateholders                                         $0.00

2.   Class B Monthly Principal deposited to the
     Collection Account for distribution to
     Class B Certificateholders                                         $0.00

3.   Series 2002-2 Principal Shortfall                                  $0.00

4.   Excess Principal Collections allocable from other Series
     deposited to the Series 2002-2 Collection Account
     for distribution to Certificateholders                             $0.00

5.   Excess Principal Collections allocable to other
     Series                                                   $937,461,613.23

D.   Information Regarding the Series 2002-2 Class A
     Interest Funding Account

1.   Beginning Balance                                                  $0.00

2.   Deposit from Collection Account                            $2,586,562.50

3.   Withdrawal to Class A Certificateholders, if any           $2,586,562.50

4.   Ending Balance                                                     $0.00

E.   Information Regarding the Series 2002-2 Accrued and
     Unpaid Amounts

1.   The amount of any Class A Monthly Interest previously
     due but not deposited in the Class A Interest Funding
     Account on a prior Distribution Date.....                          $0.00

2.   The amount of additional interest [at the Class A
     Certificate Rate] with respect to interest amounts that
     were due but not paid on a previous Interest Payment
     Date or Special Payment Date.....                                  $0.00

3.   The amount of any Class B Monthly Interest previously
     due but not distributed to Class B Certificateholders
     on a prior Distribution Date.....                                  $0.00

4.   The amount of additional interest [at the Class B
     Certificate Rate] with respect to interest
     amounts that were due but not paid
     on a previous Distribution Date.....                               $0.00


                                     Page 2







             ------------------------------------------------------
             American Express Travel Related Services Company, Inc.
                  American Express Master Trust, Series 2002-2
             ------------------------------------------------------

F.   Information Regarding Series 2002-2 Certificate
     Balances, Invested Amounts, and Investor Charge Offs
     (for the preceding Due Period)

1.   Class A Certificate Balance                            $1,000,000,000.00

2.   Class B Certificate Balance                               $81,081,081.00

3.   Class A Invested Amount                                $1,000,000,000.00

4.   Class B Invested Amount                                   $81,081,081.00

5.   Class A Investor Charge Offs for the preceding Due
     Period                                                             $0.00

6.   Class B Investor Charge Offs for the preceding Due
     Period                                                             $0.00

7.   Unreimbursed Class A Investor Charge Offs                          $0.00

8.   Unreimbursed Class B Investor Charge Offs                          $0.00

G.   Information Regarding the Current Monthly Distribution
     To Class A and Class B Certificateholders

1.   Total Class A distributions                                $2,586,562.50

2.   Class A interest distributions                             $2,586,562.50

3.   Class A principal distributions                                    $0.00

4.   Total Class B distributions                                  $237,649.21

5.   Class B interest distributions                               $237,649.21

6.   Class B principal distributions                                    $0.00

H.   The Series 2002-2 Factors

1.   The Series 2002-2 Class A Factor for the preceding Record Date
     [which represents the ratio of the amount of the Class A
     Invested Amount as of such Record Date (adjusted after taking
     into account any reduction in the Class A Invested Amount that
     will occur on the following distribution date) to the Initial
     Class A Invested Amount (rounded to seven decimal places)     1.0000000%

2.    The Series 2002-2 Class B Factor for the preceding Record Date
      [which represents the ration of the amount of the Class B
      Invested Amount as of such Record Date (adjusted after taking
      into account any reduction in the Class B Invested Amount that
      will occur on the following distribution date) to the Initial
      Class A Invested Amount (rounded to seven decimal places)    1.0000000%


                                     Page 3







             ------------------------------------------------------
             American Express Travel Related Services Company, Inc.
                  American Express Master Trust, Series 2002-2
             ------------------------------------------------------

Pursuant to Section 9.01 of the Agreement,  to the knowledge of the undersigned,
no Early Amortization  Event, with respect to the Series 2002-2 Certificates has
occurred.

Any Yield  Factor in effect  during the  preceding  Due Period was not below the
minimum Yield Factor.

The Trust Principal  Component as of the end of the preceding Due Period was not
less than the Minimum Trust Principal Component.

The  Transferor  Amount as of the end of the  preceding  Due Period was not less
than 3.0% of the Trust Principal Component.

IN WITNESS WHEREOF,  the undersigned has duly executed this Certificate this 5th
day of May 2005.


                                            American Express
                                            Travel Related Services
                                            Company, Inc.
                                            Servicer,

                                            By:    /s/ Susanne L. Miller
                                                   ---------------------
                                            Name:  Susanne L. Miller
                                            Title: Vice President
                                                   Treasury Controller






















                                     Page 4






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CIK: 949348
Form Type: 8-K Corporate News
Accession Number: 0001125282-05-002591
Submitted to the SEC: Mon May 16 2005 1:02:29 PM EST
Accepted by the SEC: Mon May 16 2005
Period: Monday, May 16, 2005
Industry: Asset Backed Securities
Events:
  1. Financial Exhibit
  2. Other Events

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