<PAGE> 1
Pricing Supplement No. 3 Effective at 10:00 A.M. May 12, 1998
PROSPECTUS and PROSPECTUS SUPPLEMENT, each Rule 424 (b)(3)
Dated March 26, 1998 Registration Statement
No. 333-41059
U.S. $5,000,000,000
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 Maturity
---------------
Interest Rate
Range of Maturities Per Annum
- ------------------- ----------------
More than 9 months to less than 1 year .......... 5.75%
The interest rates on the Medium-Term Notes may be changed by Ford Motor Credit
Company from time to time, but any such change will not affect the interest rate
on any Medium-Term Note ordered prior to the effective time of the change.
---------------
GOLDMAN, SACHS & CO. MERRILL LYNCH & CO.
LEHMAN BROTHERS SALOMON SMITH BARNEY