New cardholders can earn 50,000 bonus points after spending $3,000 within three months of opening an account, plus a Travel Together companion ticket with $20,000 in purchases in the first year. You can get two companion tickets if you spend $30,000 on the card, which is the minimum requirement to earn one ticket each calendar year after the first year.

You’ll want to make sure you use a companion ticket within two years of its issue date. Also, fares are subject to taxes, fees and carrier charges, but you can use reward points to pay for them.

How to earn the most points: Use the British Airways Visa Signature Card for hotel stays and certain flight bookings. You’ll receive a higher rate on these purchases for the first year.

You can earn five Avios, or points, for every dollar you spend on British Airways, Aer Lingus and Iberia flights in the first 12 months and then three points thereafter. For the first year, you can also get three points for each dollar spent on hotel stays and then two points after that. You’ll receive one point per dollar on everything else.

All cardholders can take advantage of a 10% discount on new flight bookings by using the promotion code CHASEBA10 at www.ba.com/Chase10.

Card benefits include purchase protection, which reimburses you for damage or theft of items bought with the card for 120 days and up to $500 per claim and $50,000 per account. Plus, extended warranty protection adds one year to the manufacturer’s warranty of three years or less on eligible card purchases.

Following are rates and fees you can expect to pay for the British Airways Visa Signature Card:

You can maximize rewards with a British Airways Visa Signature Card by spending $3,000 in the first three months to earn the 50,000-point new cardholder bonus and $20,000 within 12 months to obtain a companion fare. Two companion tickets are yours if you spend $30,000 in the first year.

Use the card for enhanced earnings in the first 12 months on hotel stays and certain flights. You’ll get five points for every dollar spent on flights with British Airways, Aer Lingus and Iberia, plus five points for every dollar you spend on hotel rooms. The card then earns three points and two points on these purchases, respectively, plus one point for each dollar spent on everything else.

You’ll need to join British Airways Executive Club, the carrier’s free customer loyalty program, to transfer points from your account each billing cycle, to redeem points and to share accounts. You can book reward travel online with your Executive Club membership.

As long as your Executive Club account is active once every 36 months, your points will not expire.

Both cards have the same costs – a $95 annual fee and a variable APR of 15.99% to 22.99% – but different sign-up bonuses for new cardholders. The British Airways Visa Signature Card offers a 50,000-point bonus for $3,000 in spending in the first three months, and the Chase Sapphire Preferred Card earns 80,000 points with $4,000 in spending in the same time frame, plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.

An advantage of the Chase Sapphire Preferred Card is that you can earn two points per dollar on dining, travel and eligible grocery purchases. You’ll also get a 25% bonus when you redeem your points through the Chase Ultimate Rewards portal. These features could make this card a more practical choice than the British Airways Visa Signature Card as the pandemic continues to disrupt travel.

Discover it Miles could cost you less than the British Airways Visa Signature Card. If you have excellent credit, you could secure an APR as low as 11.99% with Discover it Miles versus 15.99% to $22.99% with the British Airways Visa Signature Card. Discover it Miles does not charge an annual fee, but you will pay a $95 annual fee for the British Airways Visa Signature Card.

The British Airways Visa Signature Card offers 50,000 bonus points if you spend $3,000 in the first three months and a companion fare if you spend $20,000 in the first year.

By comparison, Discover it Miles earns an unlimited 1.5 miles for every card purchase and matches the miles you earn at the end of your first year as a cardholder. You’ll also have the flexibility to turn miles into cash in any amount anytime.