What does selecting "I have," "I had," or "I want" on the Gamestop Powerup rewards program do?

I know the title to this question is confusing, but it is the best way I could describe it in the fewest words. On the powerup rewards website, there is a menu called 'my game library.' In this menu, it lets you cycle through a list of video games where you can decide what you have, had, or want. Now I obviously am smart enough to figure out how to DO this; but I am wondering what the purpose of it is. Are you awarded points for updating your game library? Or is it just a pointless little activity? Basically.. I just wanna know if there is a point to it. And if there is, what is the point? Thank you for any responses.