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There are multiple types of credit card companies, since the credit card value chain consists of (primarily) three different types of players - issuers, networks, and merchant acquirers. I'll assume for simplicity by "credit card company" the person asking the question meant a company like JP Morgan Chase or Bank of America, which are typically the entities that actually issue customer credit cards, takes credit risk, and manages their accounts (hence the name "issuer"). Note that some companies - American Express and Discover - operate throughout the entire value chain in addition to being the issuer of their cards.
There are three principle ways that issuers make money:
Interchange revenue - money that merchants pay the credit card company whenever a cardholder spends with that company's credit card. This is typically 2 - 3.5% of the purchase price in the United States. The main reasons that merchants pay credit card companies for acceptance is because credit cards 1) allow consumers to spend money immediately that they may not actually have (with the credit card company taking liability for losses in case the customer can't pay later, so the merchant is always paid), and 2) are much more convenient than cash or check, so could potentially draw more customers into a business / speed up service times / enable large payments.
Lend revenue - money that credit card companies make in interest charges for loaning out credit to customers. Interest rates will be variable based on a cardholder's creditworthiness, among other factors, and is usually pegged to a base interest rate. Since the majority of Americans have substantial outstanding credit card debt (I believe credit card debt is the second highest amount of debt in the country, second only to student loan debt), this is usually the biggest source of revenue for most credit card companies.
Fees - this includes annual fees on more premium rewards cards, late payment fees, cash advance fees (although I guess that could be interest?), and other miscellaneous fees. Fees are not necessarily a huge component of a credit card company's revenue.
As far as where the majority of a credit card company's revenue comes from, that depends on the company:
American Express has traditionally relied heavily on interchange revenue, making over 50% of it's revenue purely from this source. It makes 20% or less of its revenue from lend. This is a somewhat unique strategy enabled by its premium position in the marketplace - lot's of high value customers generating a lot of merchant spend on their cards without much of a need to revolve their balance and pay interest. In fact, American Express is incredibly risk-averse when it comes to lending and potential losses, so it purposely doesn't delve too far into that area. Chase and other companies seem to be heavily targeting AXP's high-value cardmembers, so it remains to be seen how this strategy will work over the next 10 years or so. It has been extremely successful in the past.
Capital One and Discover have traditionally relied heavily on lend revenue. They target customers who are relatively poorer and less creditworthy and extend them small lines of credit (I've heard as little as $300 a month) and make a lot of money off those customers' interest payments as they revolve their balance. Obviously these customers are not spending a lot, so the interchange revenue the generate is quite limited.
Traditional banks like Citibank, Bank of America, Barclays, etc. are probably somewhere between the spectrum of the above two options, although they are mostly tilted towards making money from lend revenue. The reason I break them out a separately is they probably don't target quite as low-income of a customer as Capital One and Discover.
Finally, as far as what type of customers yield the most revenue / profit:
I would say it's a relatively affluent customer who spends beyond their means and so revolves their balance and has to pay large sums in interest, but isn't poor enough to ever be at a risk of actually defaulting on their card payments. This customer would generate reasonable amounts of interchange revenue for the credit card company as well as substantial lend revenue.
[Note] All content written in this answer is my own best informed opinion and should not necessarily be taken as factual and should definitely not be taken as a representation of the views of any previous employers I have had.
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