I do it a little bit. For example, if we have a big purchase coming up (such as my husband needs new tools, or lately he wants a shed), we will wait until we get a good offer. Recently I just got a spend $1000 with in 3 months, get 50,000 points (which is about $500 in travel or gift card). I will then pay off the charge when we get it, collect my rewards and if necessary cancel the card (however, I only really do that with ones that will have an annual fee after the first year).
For our everyday spending, I do maximize different credit cards for the most rewards points. For example, I have one card for gas(5% cash back immediately credited on each statement), one for groceries (3% cash back), one for restaurants (5% cash back) We don't go often, but when we do that's the card we use, and an everyday card for other purchases (1.23% cash back). I label the cards with a sharpie for my husband to keep them separate.