American Express-Delta Co-Branded Card Generates $8B and 1% of U.S. GDP
American Express’s co-branded credit card with Delta accounted for $8 billion, or 10%, of Delta’s 2025 revenue and channels transaction spending equal to nearly 1% of U.S. GDP. Launched in 1996, the partnership overcame early disputes over customer ownership after leaders agreed to prioritize mutual brand growth.
1. Launch of Delta-Amex Partnership
In 1996 Delta introduced a co-branded credit card with American Express, allowing cardholders to earn and redeem Delta SkyMiles and strengthening Delta’s premium positioning.
2. Financial Impact in 2025
In 2025 the partnership generated $8 billion, representing roughly 10% of Delta’s revenue, while transactions on the co-branded card amount to nearly 1% of U.S. GDP annually.
3. Resolving Customer Ownership Tensions
A key turning point came around 2014 when Delta CEO Ed Bastian and American Express CEO Steve Squeri agreed to focus on expanding overall value rather than vying over customer ownership.
4. Catalyst of Post-Bankruptcy Investment
The collaboration proved vital after Delta’s Chapter 11 filing in 2005: American Express supported the carrier with a $1 billion investment in 2008 as Delta emerged from bankruptcy.