Then, you can filter on Previously Owned = Yes, and you'll get a list of only Assoc. games, etc.
While a good idea there might come a time when I want to have both in there, maybe I feel like I want to add games I owned as a kid?
Any other solution can't be used with the filters. And there's a nice little space available for a custom status.
Another great thing about status is that others viewing my collection (like fellow association members, or people I meet here on BBG) will see them directly without altering any settings, status is shown by default.