There's no doubt the age of glamour and service in the sky is long gone. If you're not #blessed to be upgraded to the front of the plane, nothing should shock you by now. But let's face it, what most of us really want is an extremely low airfare, right? We'll bring our own snacks, be entertained on our mobile devices and endure the uncomfortable seats (placed way too close together) if it means more money to spend once we actually get to our destination.

Which is why bare-bones budget airlines like Frontier, Allegiant and Spirit have been gaining ground on legacy carriers. And why the big boys (American, United and Delta) have all just launched new "Basic Economy" fares to compete. While these sub-$100 fares may look like epic deals, are they really worth it? It's hard to trust an airline these days, especially when some of these new "basic economy" fares—which cost less than a standard coach fare— could end up costing you more for the same coach seat, but with notable restrictions. Here's what to know so you don't end up getting screwed.

So is it worth it? That all depends. Because if you're not careful, the standard economy ticket—the one expected to rise slightly in price this summer—may still end up being a better deal in select cases than these tempting Basic Economy tickets. Because that low fare plus the extra costs (to pick a seat or check a bag) can quickly add up to more than the standard coach ticket. But for quick, last-minute trips these new fares could really save you money. The most important thing to remember is to understand the rules and restrictions of the ticket you're purchasing. Then you can decide if the price is worth the trade-offs. As in, what's a seat assignment or carry-on worth to you? Like window or aisle, that's a personal call everyone's got to make for themselves.