Are your perks worth the price?

a man hands his credit card to a lady behind the counter
a man hands his credit card to a lady behind the counter

We here at WalletPop want you to be educated consumers. Knowing what you're getting is especially important when it comes to your credit cards, since those cards and your use of them make up a significant portion of your FICO score. This article wraps up a list of possible perks you can get from your credit card company. The benefits range from run-of-the-mill ones like collision coverage if you rent a car to extraordinary ones like having a medicine replaced if it's lost, stolen or forgotten while you're on a trip.

But do you need those perks? And what are they costing you in annual fees and APRs?

First of all, evaluate your lifestyle and be honest with yourself when applying for a new card, advises Gail Cunningham, spokeswoman for the National Foundation for Credit Counseling. A card that covers the tab if your flight is canceled overnight or picks up the bill for you to buy new clothes after your luggage flies to a different destination sounds great, but if you only fly once a year or less, this card doesn't really fit your needs. That goes doubly if said card comes with an annual fee.