Why I Chose This Chase Credit Card as My First Travel Rewards Card

Until recently, I didn't see the point of credit card rewards. It seemed like too much hassle for too little value. But I was wrong! It turns out that I love rewards credit cards, and all these years I've been missing out on great deals and a fun hobby. Oh well, it's never too late to start getting a better bargain from the banking system.

Recently, I decided to get my first travel rewards card. I chose the Chase Sapphire Preferred® Card. This card is widely recommended by experts at The Ascent as an excellent "starter" rewards card. If you want to dip your toes in the water a bit, if you're not sure how much time and attention span you're prepared to commit to rewards credit cards, this is a good one to put in your wallet.

Here are a few big reasons why I chose the Chase Sapphire Preferred® Card -- and why it's already helping me get more out of life.

This travel rewards credit card is all about travel

Travel is the best money I've ever spent. The psychological benefits of travel are profound: You get the joyful anticipation of looking forward to your next trip, you get the fun and the learning experiences of being on the road, you get the simple delights of returning home and re-entering your routine, and then you get years of happy memories. Why wouldn't I want to spend whatever it takes to have more of these feelings in my life?

The Chase Sapphire Preferred® Card is so powerful because it gives you extra travel value in multiple ways (terms apply):

• 5X points when booking travel through Chase Travel; if you buy a plane ticket for $500, you'll get 2,500 points.
• 5X points on Lyft rides
• 2x points on other travel purchases

Those are just a few travel-focused examples of how to earn points with your spending on this card. You also get 3x points for select streaming services, restaurants (including takeout and food delivery) and online grocery purchases (except for Target, Walmart, and warehouse clubs).

But perhaps the most important travel benefit is: This card's points are worth 25% more when you redeem your points for travel. For example, let's say you've racked up 50,000 reward points. If you redeem those points for cash back, you'd get about $500 back as a statement credit. Not bad! But if you use the 25% multiplier and redeem those points for travel through Chase Ultimate Rewards, you turn them into 62,500 points -- about $625 worth of travel buying power.

I personally would rather get $625 of travel than $500 of cash back. Even if I didn't get that 25% multiplier, I would still use this card's reward points solely to book travel. But getting that extra "bonus" value for travel feels fun and fulfilling, like I'm turning my everyday spending on mundane things into something more exciting and memorable.

Unlock hotel loyalty and frequent flyer programs

Before I decided to apply for the Chase Sapphire Preferred® Card, my original goal for rewards credit cards was to get some cheap airline tickets. So I thought about applying for an airline credit card. But with the Chase Sapphire Preferred® Card, you can transfer your Chase points to multiple airline frequent flyer programs and hotel loyalty programs (terms apply).

For example, Chase airline and hotel transfer partners include:

• United MileagePlus®
• Southwest Airlines Rapid Rewards®
• World of Hyatt®
• IHG® Rewards Club
• Marriott BonvoyTM

I'm still open to getting an airline credit card if the timing is right -- I like the idea of getting a welcome offer with lots of bonus frequent flyer miles. But the Chase Sapphire Preferred® Card is so versatile. It's like having a VIP pass that gets you into lots of different frequent flyer programs and hotel loyalty programs at once -- you don't need a separate card for every airline or hotel. If you find a good deal on an airfare or a hotel, you can use your Chase Ultimate Rewards® points to pay for it.

Low annual fee

Before I started learning about rewards credit cards, the idea of paying an annual fee felt distasteful to me. Why should I pay money just to carry a bank's card in my wallet? But the Chase Sapphire Preferred® Card has an annual fee of only $95 (see rates and fees), and it quickly pays for itself.

Here's how: Every year, you get a $50 hotel credit. The first time you book a hotel with your card, you'll see a $50 statement credit. Ta-da! Now you only need to find $45 of extra value from the card, and the annual fee is worth it. I can get that value back just by paying for streaming subscriptions each month.

Remember up above where I mentioned that this card gives you 3x points on streaming? I spend about $140 per month on Hulu, Netflix, and Spotify subscriptions combined. My Chase Sapphire Preferred® Card gives me 3x points on those purchases, or 420 points per month. After 12 months, I'll have 5,040 points -- worth about 6,300 points, or $63, if I redeem them for travel. That alone makes the annual fee worth it, even if I don't get any other benefits from this card (and I get lots of benefits).

Bottom line

The Chase Sapphire Preferred® Card has opened up a new world of travel to me. I feel like I have a trusty sidekick in my wallet that's going to make every vacation a little more affordable and adventurous. And it makes my everyday life of paying bills, ordering takeout, and setting up grocery delivery feel more meaningful and fun.