SECURITIES AND EXCHANGE COMMISSION

                             Washington, D. C. 20549



                                    FORM 8-K

                                 CURRENT REPORT



                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


                         Date of Report: October 2, 2002
                        (Date of earliest event reported)


                            FORD MOTOR CREDIT COMPANY
             (Exact name of registrant as specified in its charter)


                                    Delaware
                 (State or other jurisdiction of incorporation)


       1-6368                                             38-1612444
(Commission File Number)                      (IRS Employer Identification No.)


                   One American Road, Dearborn, Michigan 48126
               (Address of principal executive offices) (Zip Code)



         Registrant's telephone number, including area code 313-322-3000






<PAGE>


Item 5.  Other Events.
----------------------

On September 27, 2002, Ford Credit paid a $450 million cash dividend to Ford
FSG, Inc., its sole shareholder and an indirect wholly owned subsidiary of Ford.
Ford Credit's earnings performance combined with stable receivables levels
during the first nine months of 2002 enabled it to pay this dividend while
continuing to maintain a debt-to-equity ratio (calculated on a managed basis) at
the low end of Ford Credit's stated 13:1 to 14:1 target.





                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized on the date indicated.

                                            FORD MOTOR CREDIT COMPANY
                                            -------------------------
                                            (Registrant)


Date:  October 2, 2002               By: /s/ S. P. Thomas
                                             -------------------
                                             S. P. Thomas
                                             Assistant Secretary
[{"type": "8-K", "sequence": "1", "filename": "e100202cover.txt", "secsgml_size_bytes": 2238}]
{"company-data": {"conformed-name": "FORD MOTOR CREDIT CO", "cik": "0000038009", "assigned-sic": "6159", "irs-number": "381612444", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-06368", "film-number": "02779212"}, "business-address": {"street1": "ONE AMERICAN ROAD", "city": "DEARBORN", "state": "MI", "zip": "48126", "phone": "3135949876"}, "mail-address": {"street1": "ONE AMERICAN ROAD", "city": "DEARBORN", "state": "MI", "zip": "48126"}}
SECURITIES AND EXCHANGE COMMISSION

                             Washington, D. C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                         Date of Report: October 2, 2002
                        (Date of earliest event reported)

                            FORD MOTOR CREDIT COMPANY
             (Exact name of registrant as specified in its charter)

                                    Delaware
                 (State or other jurisdiction of incorporation)

       1-6368                                             38-1612444
(Commission File Number)                      (IRS Employer Identification No.)

                   One American Road, Dearborn, Michigan 48126
               (Address of principal executive offices) (Zip Code)

         Registrant's telephone number, including area code 313-322-3000
Item 5.  Other Events.
----------------------

On September 27, 2002, Ford Credit paid a $450 million cash dividend to Ford
FSG, Inc., its sole shareholder and an indirect wholly owned subsidiary of Ford.
Ford Credit's earnings performance combined with stable receivables levels
during the first nine months of 2002 enabled it to pay this dividend while
continuing to maintain a debt-to-equity ratio (calculated on a managed basis) at
the low end of Ford Credit's stated 13:1 to 14:1 target.

                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized on the date indicated.

                                            FORD MOTOR CREDIT COMPANY
                                            -------------------------
                                            (Registrant)

Date:  October 2, 2002               By: /s/ S. P. Thomas
                                             -------------------
                                             S. P. Thomas
                                             Assistant Secretary