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 (Date of earliest event reported) April 27, 1998
                                                 ----------------


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

          Delaware                  1-6368              38-1612444
-----------------------     -----------------------  -------------------
(State or other juris-      (Commission File Number   (IRS Employer
 diction of incorporation          Number)           Identification No.)

The American Road, Dearborn, Michigan                        48121
----------------------------------------                   ----------
(Address of principal executive offices)                   (Zip Code)


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

<PAGE>
<PAGE 2>

ITEM 5. Other Events.

     Ford Motor Credit Company, a Delaware corporation (the "Company"), has
registered Debt Securities ("Debt Securities") pursuant to Registration
Statement No. 333-40477.  The Debt Securities were registered
on Form S-3 to be offered on a delayed or continuous basis pursuant to Rule
415 under the Securities Act of 1933.  The Company has created two series of
Debt Securities for issuance under an Indenture dated as of August 1, 1994,
between the Company and First Union National Bank (formerly First Fidelity
Bank, National Association) (the "Indenture"), designated as the Company's
6 1/8% Notes due April 28, 2003 in the aggregate principal amount of
$2,250,000,000 and Floating Rate Notes due April 28, 2005 in the aggregate
principal amount of $1,000,000,000 (together, the "Notes").  Each series of 
the Notes will be represented by Global Securities (the "Global Securities"),
except that in certain circumstances as provided in such Indenture, the
Global Securities will be exchanged for Notes in definitive form (the
"Definitive Notes").  Copies of the form of specimen Global Security for each
series and form of Definitive Note for each series are being filed as
exhibits to this report.

ITEM 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

                              EXHIBITS

Designation       Description                         Method of Filing
-----------       -----------                         ----------------
Exhibit 4.1       Form of specimen Global Security    Filed with this Report
                  relating to Ford Motor Credit
                  Company's 6 1/8% Notes due
                  April 28, 2003.

Exhibit 4.2       Form of specimen Global Security    Filed with this Report.
                  relating to Ford Motor Credit
                  Company's Floating Rate Notes due
                  April 28, 2005.

Exhibit 8.1       Opinion of Shearman & Sterling.     Filed with this Report.
        
Exhibit 8.2       Opinion of Sullivan & Cromwell.     Filed with this Report.

Exhibit 23.1      Consent of Shearman & Sterling      Filed with this Report.
                  is contained in their opinion set
                  forth in Exhibit 8.1.

Exhibit 23.2      Consent of Sullivan & Cromwell      Filed with this Report.
                  is contained in their opinion set
                  forth in Exhibit 8.2.

<PAGE>
<Page 3> 
                              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:  April 27, 1998                         By:/s/R. P. Conrad
                                                 -----------------
                                                    R. P. Conrad
                                                    Assistant Secretary

 

                                EXHIBIT INDEX

Designation                   Description               
-----------                   -----------
Exhibit 4.1       Form of specimen Global Security    
                  relating to Ford Motor Credit
                  Company's 6 1/8% Notes due
                  April 28, 2003.

Exhibit 4.2       Form of specimen Global Security    
                  relating to Ford Motor Credit
                  Company's Floating Rate Notes due
                  April 28, 2005.

Exhibit 8.1       Opinion of Shearman & Sterling.     
        
Exhibit 8.2       Opinion of Sullivan & Cromwell.     

Exhibit 23.1      Consent of Shearman & Sterling      
                  is contained in their opinion set
                  forth in Exhibit 8.1.

Exhibit 23.2      Consent of Sullivan & Cromwell      
                  is contained in their opinion set
                  forth in Exhibit 8.2.
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 5201}]
{"company-data": {"conformed-name": "FORD MOTOR CREDIT CO", "cik": "0000038009", "assigned-sic": "6141", "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": "98601331"}, "business-address": {"street1": "THE AMERICAN RD", "street2": "PO BOX 6044", "city": "DEARBORN", "state": "MI", "zip": "48121", "phone": "3133223000"}, "mail-address": {"street1": "PO BOX 6044", "street2": "THE AMERICAN ROAD", "city": "DEARBORN", "state": "MI", "zip": "48121"}}
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 (Date of earliest event reported) April 27, 1998
                                                 ----------------

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

          Delaware                  1-6368              38-1612444
-----------------------     -----------------------  -------------------
(State or other juris-      (Commission File Number   (IRS Employer
 diction of incorporation          Number)           Identification No.)

The American Road, Dearborn, Michigan                        48121
----------------------------------------                   ----------
(Address of principal executive offices)                   (Zip Code)

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

     Ford Motor Credit Company, a Delaware corporation (the "Company"), has
registered Debt Securities ("Debt Securities") pursuant to Registration
Statement No. 333-40477.  The Debt Securities were registered
on Form S-3 to be offered on a delayed or continuous basis pursuant to Rule
415 under the Securities Act of 1933.  The Company has created two series of
Debt Securities for issuance under an Indenture dated as of August 1, 1994,
between the Company and First Union National Bank (formerly First Fidelity
Bank, National Association) (the "Indenture"), designated as the Company's
6 1/8% Notes due April 28, 2003 in the aggregate principal amount of
$2,250,000,000 and Floating Rate Notes due April 28, 2005 in the aggregate
principal amount of $1,000,000,000 (together, the "Notes").  Each series of 
the Notes will be represented by Global Securities (the "Global Securities"),
except that in certain circumstances as provided in such Indenture, the
Global Securities will be exchanged for Notes in definitive form (the
"Definitive Notes").  Copies of the form of specimen Global Security for each
series and form of Definitive Note for each series are being filed as
exhibits to this report.

ITEM 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

                              EXHIBITS

Designation       Description                         Method of Filing
-----------       -----------                         ----------------
Exhibit 4.1       Form of specimen Global Security    Filed with this Report
                  relating to Ford Motor Credit
                  Company's 6 1/8% Notes due
                  April 28, 2003.

Exhibit 4.2       Form of specimen Global Security    Filed with this Report.
                  relating to Ford Motor Credit
                  Company's Floating Rate Notes due
                  April 28, 2005.

Exhibit 8.1       Opinion of Shearman & Sterling.     Filed with this Report.
        
Exhibit 8.2       Opinion of Sullivan & Cromwell.     Filed with this Report.

Exhibit 23.1      Consent of Shearman & Sterling      Filed with this Report.
                  is contained in their opinion set
                  forth in Exhibit 8.1.

Exhibit 23.2      Consent of Sullivan & Cromwell      Filed with this Report.
                  is contained in their opinion set
                  forth in Exhibit 8.2.
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:  April 27, 1998                         By:/s/R. P. Conrad
                                                 -----------------
                                                    R. P. Conrad
                                                    Assistant Secretary

 

                                EXHIBIT INDEX

Designation                   Description               
-----------                   -----------
Exhibit 4.1       Form of specimen Global Security    
                  relating to Ford Motor Credit
                  Company's 6 1/8% Notes due
                  April 28, 2003.

Exhibit 4.2       Form of specimen Global Security    
                  relating to Ford Motor Credit
                  Company's Floating Rate Notes due
                  April 28, 2005.

Exhibit 8.1       Opinion of Shearman & Sterling.     
        
Exhibit 8.2       Opinion of Sullivan & Cromwell.     

Exhibit 23.1      Consent of Shearman & Sterling      
                  is contained in their opinion set
                  forth in Exhibit 8.1.

Exhibit 23.2      Consent of Sullivan & Cromwell      
                  is contained in their opinion set
                  forth in Exhibit 8.2.