Best travel rewards cards 2012

For our most up-to-date ranking of travel credit cards, go here.

Research shows that experiences make people happier than physical goods—for example, people generally get more pleasure from a $100 ski trip than a $100 watch. “If you’re like me and you have a hard time remembering to take a vacation, it can be great to have some travel points or miles, because it can make particular kinds of purchases feel better,” says behavioural psychologist Matt Wallaert.

To find the card that best matches your spending and re-payment patterns, try our Credit Card Selector Tool.

In the meantime, here’s our list of cards that provide the highest average percentages of cash back for every dollar you spend:

1.

Capital One
Aspire Travel World MasterCard
Annual Fee: $120
Current Interest Rate: 19.8%
Card Details: Requires personal income of $60,000 or household income of $100,000; includes travel medical insurance.

2.

American Express
Gold Rewards
Annual Fee: $150
Current Interest Rate: n.a.
Card Details: Balance must be paid in full each month. Includes travel medical insurance and car rental insurance.

3.

RBC
WestJet World MasterCard
Annual Fee: $79
Current Interest Rate: 19.99%
Card Details: Includes travel medical and car rental insurance, purchase security and extended warranty.

4.

BMO
World Elite MasterCard
Annual Fee: $150
Current Interest Rate: 20.5%
Card Details: Includes medical, travel and car rental insurance, airport lounge access and extended warranty.

5.

CIBC
Aerogold VISA
Annual Fee: $120
Current Interest Rate: 19.99%
Card Details: Tied with CIBC Aventura World MasterCard, CIBC Aerogold Visa Infinite and CIBC Aventura Visa Infinite.

6.

TD
First Class Travel Visa Infinite
Annual Fee: $120
Current Interest Rate: 19.99%
Card Details: Includes trip interruption and cancellation insurance and delayed and lost baggage coverage.

7.

American Express
Blue Sky
Annual Fee: $0
Current Interest Rate: 19.99%
Card Details: Includes travel accident insurance and premium event seating.

What’s the real value of your travel rewards points?

Learn how we crunched the numbers for Canada’s Best Credit Cards 2012 by reading our methodology.

Travel cards not for you? Check out our Best cash-back cards 2012, Best merchandise cards 2012, Best low-rate cards 2012, Best student cards 2012 and Best small business cards 2012 lists instead.