It’s always nice to see credit cards adding benefits (without taking anything away), and we’re seeing this right now with the trend towards eliminating foreign transaction fees. While Capital One has long been good about not charging foreign transaction fees, Chase has been catching up with a couple of their cards, most notably their Hyatt, Priority Club, and now British Airways co-branded Visa card. Foreign transaction fees are typically around 2-3%, so the fees can add up quickly when traveling internationally or doing business with a foreign company
It looks like American Express will slowly start to follow Chase’s lead, by eliminating the foreign transaction fees on their American Express Platinum and Centurion cards (these are the cards that earn Membership Rewards points, and not co-branded credit cards) towards the end of the first quarter 2011. This is long overdue given how hefty the annual fee for these cards is, though hopefully eventually they’ll be adding this benefit to other co-branded cards as well.
(Tip of the hat to Gary)