Chances are you're part of a rewards program. Whether it's airline miles, hotel stays or credit card points, new data shows Americans are holding on to those points; but you may be losing valuable rewards you've earned.
"They (Americans) are hanging on to about 200 billion total," said CNBC's Kelli Grant, talking about rewards points consumers are hoarding.
We're also participating in more rewards programs than ever before... about 29 on average when we're only active in about a dozen programs.
Perks like free Wi-Fi lure us into signing up, but then we forget about the card. And unlike saving money in your bank, it doesn't always pay to let those points stand idle. Programs can change terms to make points less valuable or expire.
Grant says you should go through your email, wallet and keychain and take stock of all of your loyalty programs. Then assess which ones fit your lifestyle and pick a few to focus on.
"How often are you going to be spending money in that category where you have where you can earn it," Grant said you should ask yourself.
Frequent fliers might benefit more from airline miles while credit card rewards might be a better focus for those traveling less often. The last step is to clean house.
"You might have enough in there to get yourself a small gift certificate or a magazine subscription," said Grant.
Apps can also help rally all of your points and programs in one spot. Here are three popular apps that can help:
Award Wallet keeps tracks of your rewards programs, points and miles. It sends you notifications when balances change and before points expire so you won't lose them.
KeyRing helps store all of your store loyalty cards into one spot on your phone to get them off of your keychain. You can just show your phone at checkout instead of the card.
Wallaby informs consumers about which card to use when shopping, and helps them find the best credit card to add to their wallets by taking into account rewards, fees, interest rates and more financial data. Wallaby is available for your smartphone, your web browser, and your wearable devices.