Is that credit card with the annual fee really worth it?

NEW YORK (AP) — The biggest months for adding and dropping credit cards are December and January, so now's the time to make sure that $95 annual fee is really worth it.

American Express raised the fee on its popular Premier Reward Gold Card and its co-branded credit card with Starwood Hotels from $65 to $95 last year, for example.

Schulz says banks are lowering interest rates they are charging on cardholders who carry a balance, but raising annual fees to help generate income.

December is the most popular month for signing up for new credit cards, as people add reinforcements to their holiday shopping arsenal.

January tends to be the most popular month for dropping cards, as people look at the big bills coming in and consolidate balances into low-rate cards.

There are dozens of cards issued by banks that allow users to earn frequent flier miles or points toward a free hotel stay.

Others offer perks, like access to tickets before they are on sale to the broader public, or the ability to check a bag on a flight without having to pay a fee.

Knowing to ask the card's customer service agent specifically if there are retention offers can help.