<human>: I'm looking into getting another credit card to specifically help me with traveling.  I'm looking at the Chase Saphire Preferred card, because it got rave reviews, but something isn't adding up.    

Chase Saphire Preferred offers 2X points for restaurants, and travel expenses, and 1X points everything else.  Given that 1PT = $.01 (or $.02 if switching currencies to another flight miles program), am I crazy or does this not sound like much rewards at all?  For a $300 flight, that would mean I'd have to spend $30,000 (less if I'm getting food at restaurants/travel) in order to get the flight covered?!

What's even more confusing is I'm aware that if you have a Chase Freedom card, you can transfer points to the Saphire Preferred card.  But with Chase Freedom, I get rewards in the form of cash back.  So if I spend $20 and I get 5% cash back on that purchase, that's essentially $1 back... or 100 points.  So it only took me $20 to get 100 points.  With my Saphire Preferred card, I would need to spend $100 to get 100 points.  Because if I'm able to transfer my Chase Freedom points 1:1 with my Chase Saphire Preferred points, that seems like a huge loophole.  Or, more likely, my math must be wrong here??  Why is this card so good?  Is it just the introductory bonus offer?

Could you distill the essence of the text into 1-3 sentences?
<bot>: ELI5 How do travel rewards, and flight miles work (specifically with Chase)?  Alternatively, why is Chase Saphire Preferred so well reviewed, if it takes such a long time to accumulate any substantial amount of points.