The British Airways Visa Signature credit card is a popular choice among frequent flyers and those looking to rake in credit card points with one of the best bonuses this year.

It's hard to beat the 50,000 bonus points when you sign up and the other perks that come with the card. Fly British Airways and thinking about applying? Here's the full scoop on the card.

The 2013 British Airways Visa Sign-up Promotion

Chase is still running one of their most popular promotions when you sign up for the British Airways Visa Signature: spend $1,000 during your first three months and get 50,000 bonus Avios points -- enough for a roundtrip ticket from the United States to many European destinations. While you'll still be responsible for the taxes and surcharges, this is still a great deal.

You'll also get 25,000 bonus points for spending $10,000 during the first 12 months and an extra 25,000 points if you spend $20,000 total in the first year. This means that you can potentially earn up to 100,000 bonus points!

Earning Avios

British Airways just began using Avios points last year instead of miles and now offers more ways to redeem points. While most airlines offer 2% cash back or the equivalent in points on airline spending and 1% on everything else, the British Airlines Visa Signature does a bit better. You'll earn 2.5 Avios for every $1 spent at British Airways and 1.25 Avios per $1 on everything else.

Redeeming Avios

Avios points tend to go a long way and, if you receive the full 100,000 point bonus by spending $20,000 during your first 12 months, you have enough for 2 roundtrip tickets from the United States to the UK, for example, or four flights to Hawaii.

You can also use Avios points to book award flights on virtually ANY American Airlines flight or other partners in the OneWorld Alliance, including Japan Airlines, Iberia and many others. In some cases, Avios points can be worth 2 to 3 cents each.

One thing to keep in mind: While you can redeem your miles on American and other partners, you can't actually transfer them so you won't be able to combine 15,000 AAdvantage miles with 10,000 Avios points for a 25,000 mile flight.

Earning an Annual "Travel Together Ticket"

Every calendar year you spend $30,000 on your card, you'll get a voucher for a single companion ticket on a flight you book with rewards miles. Your voucher is worth 20,000 bonus points, or $200, and it doesn't expire for two years. It's possible to save thousands with the voucher if you use it for an international or first-class trip and this benefit can be enjoyed every year.

Other Benefits of the British Airways Card

The British Airways card has no foreign transaction fees, versus the standard 3% fee. Spending even $3,500 outside of the country and you face a fee of $105 with most credit cards -- $10 more than the annual fee for the BA card.

It also includes Smart Chip Technology so you can use your credit card for chip-based transactions throughout Europe and elsewhere while still using your card domestically. As a Visa Signature card, you also get extended warranties on eligible purchases, purchase protection and 24/7 access to concierge.

Is it Worth the Annual Fee?

If you're even an occasional traveler, the British Airways card can pay for itself. The sign-up bonus alone is a $500 value -- which means the card pays for itself for the first five years as soon as you sign up. If you already fly British Airways and you pay your balance in full every month, this is definitely a nice card to have in your wallet to rack up Avios points.