As of last month, the British Airways Visa Signature Card from Chase no longer charges a foreign transaction fee on international purchases. New cardmembers who sign up for the card can earn 25,000 bonus miles with their first purchase and another 25,000 miles after spending $2,500 to the card in the first three months. Other benefits include a companion-flies-free award voucher each year a cardmember spends $30,000 plus 2.5 miles for every $1 spent on British Airways and 1.25 miles per $1 spent everywhere else. The card has an annual fee of $75. Visit http://www.chase.com/britishairways for more information.

Bottom line: The British Airways Visa Signature Card is the first co-branded airline credit card to eliminate foreign transaction fees, but it’s not the only co-brand card to waive these fees. The Priority Club Select Visa does not charge foreign transaction fees and has a lower annual fee of $49. While not as good as the previously offered 100,000-mile sign up bonus, the 50,000-mile sign up bonus and annual companion award voucher (valid for two years) if you spend $30,000 per year are great benefits of the British Airways Chase Visa. Keep in mind that British Airways charges fuel surcharges on award tickets that can add up to hundreds of dollars and you will also have to pay taxes, fees and surcharges on the companion ticket.