American Express gains full control of Swisscard as credit‑card revenue growth fuels earnings

American Express’s earnings are anchored by a mixed‑revenue model that combines transaction fees, annual card fees and interest on revolving credit‑card balances. Growth in credit‑card volume, interest‑margin performance and credit‑loss provisions are key drivers for the company’s profitability and are closely watched ahead of its next quarterly report.

In Switzerland, American Express completed the acquisition of the remaining stake in Swisscard, taking full ownership after the Credit Suisse‑inherited share held by UBS was transferred. The change, effective January 2026, makes the Swiss operation wholly owned by the U.S. firm. Card pricing in Switzerland remains high, with the Amex Platinum at CHF 900 per year and the exclusive Centurion Card reportedly costing up to CHF 4,500 annually.