Who wouldn't want to travel the world for free? For big spenders, that's the promise of many travel rewards credit cards. But not all travel rewards cards are made equal, so you have to be careful about which one you choose.

If you are in need of a new credit card or just curious what's out there and you love to travel, well, you've come to the right place. Today, I'm going to rank my five favorite travel rewards credit cards.

Each credit card was ranked based on the following factors: 

  • Sign-up bonus
  • Simplicity and functionality of the point system
  • Annual fee
  • APR
  • Special card features  

The slideshow below reveals my top five.

Dave Koppenheffer has no position in any stocks mentioned. The Motley Fool recommends American Express and owns shares of JPMorgan Chase. It recommends and owns shares of Bank of America, MasterCard, and Visa. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.