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ITT: A short Guide that describe the different perks.
Perk 1 (Blue Perks)
3 x Secondary Grenade: 3 x Tabun Gas or Signal Flares.
2 x Satchel Charges: 2 x Satchels that is thrown with L1 and detonated with R1 when the Detonator is chosen, you can also double tap Square if you are using another weapon.
2 x M9A1 Bazooka: 2 x long range explosives.
Bomb Squad: When you get close enough to a Bouncing Betty or Satchel an Icon appears on top of the explosive, this makes it easier to detect or/and avoid potential traps.
2 x Bouncing Betty: 2 x Mines that you can plant. It activates when an enemy get close to it. Good for defending potential objectives. Try to "camouflage" your Mines so it is harder to detect them.
Bandolier: You start with maximum ammunition.
2 x Primary Grenade: 2 x Frag Grenades, N° 71 ST Grenades or Molotov Cocktails.
M2 Flamethrower: Allows you to pull forth a flamethrower as a third weapon.
Some weapon attachments like: Grenade Launcher x2 and Grip takes the 1 Perk Slot.
Perk 2 (Red Perks)
Stopping Power: 1.4 x Bullet Damage. Stopping Power cancels out Juggernaut.
Fireworks: 1.25 x Explosive Damage. Fireworks cancels out Flak Jacket.
Flak Jacket: 0.75 x Explosive Damage taken. Flak Jacket cancels out Fireworks.
Gas Mask: Prevent Tabun Gas Effect.
Juggernaut: 0.75 x Bullet Damage taken. Juggernaut cancels out Stopping Power.
Camouflage: You won't show up on the radar unless you fire a gun without a Suppressor or Flash Hider.
Sleight of Hand: 0.5 x Reload time.
Shades: Prevent Signal Flare effect
Double Tap: 0.75 x Fire Time
Overkill: Allows you to carry two primary weapons from the start
Perk 3 (Yellow Perks)
Deep Impact: 2 x damage remaining through wall.
Extreme Conditioning: 2 x Sprint Distance.
Steady Aim: 0.65 x hip fire spread radius.
Toss Back: Reset the fuse on picked up grenades to default thus letting you cook it and throw it away.
Second Chance: After your health drops to 0 it lets you get into a mode where you get 2 health and whip out your pistol and try a last effort in getting your enemy. If the enemy is unable to kill you after you are down in this stance you can stay in it for 30 seconds or until you are killed or revived. You need to use this perk to be able to revive or be revived by other players with Second Chance.
Martyrdom: After your health drops to 0 you die and drop a live frag grenade with a 2.5 second fuse.
Fireproof: 0.55 x Fire damage taken
Dead Silence: Your movement sound is drastically decreased.
Iron Lungs: Lets you hold your breath when scoped in with a sniper for another 5 seconds when holding the R3 button.
Reconnaissance: Shows Artillery strikes, Dogs and Tanks on your radar when you get close enough.
Perk 4 (Vehicle Perks)
Water Cooler: 0.7 x Machine gun overheat on a Tank.
Greased Bearings: 1.25 x Turret movement speed.
Ordinance Training: 0.7 x Turret fire-time.
Lead Foot: 1.35 x Tank movement speed
Coaxial Machine Gun: You get to use a second Machine Gun on the Tank. So you don't have to switch to the MG on top of the Tank to get the infantry walking outside your turret aiming angle.