I have a fake email/phone number that I tie to the store loyalty cards..
Here's my "system" if you will - cards tied the real me that I use on a regular basis - bank, debit, library, gym membership, insurance - in my wallet.
Store cards - punch a hole thru them and store on a large key ring.
Below pic from someone else's blog , but that's pretty much how mine look. These I keep in my bag - this idea might not work for men or people who carry small bags though.... I think I originally saw this idea in Real Simple Magazine years ago - I personally don't put any cards on the big ring that have my real info tied to them or any value (like giftcards)
I travel a lot so I have all the airlines, hotel and rental car company cards - these I keep in a business card binder along with all our zoo and attraction membership cards (belong to seveal in our city and others) and only put in my wallet when we will be using them..