PROSPECTUS and                        Pricing Supplement No. 55 
PROSPECTUS SUPPLEMENT, each           Effective at 9:32 A.M.    
Dated October 10, 1995                January 23, 1996

                                      Rule 424(b)(3)
                                      Registration 
                                      Statement No. 33-55945

                     U.S.$4,000,000,000

                 FORD MOTOR CREDIT COMPANY

                      MEDIUM-TERM NOTES

        Due from 9 Months to 30 Years from Date of Issue
              Interest payable each March 15 and 
               September 15 and at Stated Maturity

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The Notes offered hereby are Fixed Rate Notes as more fully
described in the accompanying Prospectus and Prospectus
Supplement.  Interest rates offered by Ford Credit with respect
to the Notes may differ depending upon, among other things, the
aggregate principal amount of Notes purchased in any single
transaction.

Issue Date:                           February 1, 1996

Stated Maturity:                      February 1, 2006

Interest Rate:                        6.09% per annum

Minimum Denomination and 
  Purchase Amount:                    $1,000 and integral  
                                      multiples thereof

Agent's Discount or Commission        1.50%

Agent's Capacity                      ____ Agent  _X__ Principal*


* If acting as principal, $2,000,000.00 aggregate principal
amount of the Notes are being purchased by Merrill Lynch & Co.,
Lynch, Pierce, Fenner & Smith Incorporated at the discount set
forth above for resale to investors at varying prices related to
prevailing market prices at the time of resale.

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                       MERRILL LYNCH & CO.
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