Chase joins the small list of banks offering credit cards with no foreign transaction fees for purchases made abroad. The new British Airways Visa Signature Card from Chase offers plenty of reward options for frequent international travelers, but company officials admit that an instant savings on every purchase may become the new card's most attractive benefit.

Most credit card issuers add surcharges ranging between 3 and 5 percent for every transaction made outside a cardholder's home country. Capital One's U.K. bank charter enables it to offer credit cards with no foreign transaction fees, while Pentagon Federal Credit Union targets its card to military travelers and their families. The BA Visa Signature Card becomes the first airline affinity credit card to eliminate foreign transaction surcharges altogether.

Chase's partnership with the company managing BA's rewards programs in the United States also enables the new card to offer significant travel reward opportunities. Travelers can earn 2.5 Avios for every dollar spent with the airline. All other purchases earn 1.25 Avios per dollar, and every calendar year you make $30,000 in purchases on your British Airways Visa Card you can earn a Travel Together Ticket good for two years (taxes, fees and carrier charges apply).