Pricing Supplement No. 164 Dated February 6, 1998
(To Prospectus and Prospectus Supplement
Dated October 24, 1996)
Rule 424(b)(3)
Registration Statement
No. 33-64237
U.S.$5,000,000,000
FORD MOTOR CREDIT COMPANY
Medium-Term Notes Due from 9 Months
to 30 Years from Date of Issue
Ford Motor Credit Company ("Ford Credit") has designated
$75,000,000 aggregate principal amount of its Medium-Term Notes Due from 9
Months to 30 Years from Date of Issue having specific terms set forth below.
Salomon Brothers Inc has agreed to purchase the Notes at a price of 99.825%
of their principal amount for resale at an initial public offering price of
100% of their principal amount. After the initial public offering, the
offering price may be changed.
Issue Date: February 13, 1998.
Principal Amount: $75,000,000.
Interest Rate Basis: LIBOR having an Index Maturity of three months
plus 9 basis points.
Interest Reset Dates: Quarterly on the 13th day of the months of
February, May, August and November.
Interest Payment Dates: Quarterly on the 13 day of the months of
February, May, August and November, beginning
May 13, 1998.
Stated Maturity: February 13, 2001.
Reference Agent: The Chase Manhattan Bank
SALOMON BROTHERS INC
