Every frequent traveler keeps at least one travel reward credit card in his or her wallet. Whether an airline frequent-flyer card, hotel loyalty program card or another, the aim is to take advantage of your spending to earn free travel, upgrades, lounge access and other fabulous perks. You’re probably also always on the lookout for a new, better reward card. However, a new 2016 travel credit card usage study from NerdWallet suggests the majority of travelers aren’t maximizing reward points and miles. While many travelers think longer flights and higher ticket prices are the only ways to rack up reward points, the study points to a better, easier way to insure a reward points boost, and it’s all about good timing.

NerdWallet points out what many of us already know — credit cards typically run limited sign-up offers with substantial sign-up bonuses a few times each year. These sign-up bonuses can range anywhere from 5,000 up to 50,000 bonus points. According to the survey, on average, travelers miss out on 15,338 bonus points or miles by signing up at a date other than the most opportune time.

General travel cards and airline cards most often offer larger-than-average sign-up bonuses in November, but the majority of travelers apply for these cards in July and January. Hotel cards generally offer larger-than-average sign-up bonuses in August, but most travelers apply in April. There are also differences for co-branded and issuer-branded cards, with the best sign-up deals running in August and November, respectively, and the highest number of actual sign-ups occurring in January and July.

“When only 17 percent of applications were during limited-time-offer months, it’s clear that the ‘best time’ to apply for the cards we analyzed was never the most popular time to apply. Moral of the story? To get the best deals, try to plan ahead and apply during the off season — like in the late summer and fall,” said Sean McQuay, resident credit card expert, NerdWallet.

On the other hand, NerdWallet estimates the average travel point or mile is worth about $0.0116. Using this estimate, those 15,338 points travelers are missing out on equals around $177. Under those terms, frequent travelers in particular may lose out on valuable points and miles by waiting until sign-up bonus prime time. NerdWallet suggests if you expect to spend $2,000 or more on a reward card each month, you may not want to hold out for a better sign-up deal in the far-off future.

“If you already have a good rewards card, you can probably wait for a limited-time offer on your next card. But consumers who aren’t earning rewards will need to make an informed decision about whether they should wait to apply. A couple of factors to consider are how often your card of choice offers an increased sign-up bonus and if your spending is high enough that you’ll miss out on a lot of rewards by waiting,” said McQuay.

Aside from the best sign-up bonus months, if your choice to sign up for a new reward card is based on earning miles or points to use during an upcoming trip, NerdWallet says to sign up five months before your travel. It estimates you’ll receive the card in two weeks after approval, hit the spending requirement in three months and then find the best travel deals approximately 47 days before your trip.

Do you feel you’re fully able to take advantage of your reward cards’ bonus points or miles? Do you ever plan trips solely around using bonus points or miles? Email us and let us know. Please include your full name and location with your email.