One of the most important things you can do for your personal finances is to get rid of your non-mortgage consumer debt. This debt can be hard on your credit score, and it weighs you down with interest payments. one way you can start saving money on interest charges and pay down your debt is with a credit card balance transfer to a 0% APR card. (This can be especially helpful now, since home equity loans are harder to come by.)

However, there are some things that you need to watch out for when you decide to do a credit card balance transfer. Trees Full of Money offers these insights into issues related to a credit card balance transfer:

*Balance transfer fees: High balance transfer fees can destroy some of the value of your 0% APR offer. Try to find a credit card that doesn’t charge balance transfer fees.

*Credit score: Another thing to consider is the impact on your credit score. If you close your other credit cards after a balance transfer, this can hit your score in two ways. First,  closing the accounts can cause a slight dip. Second, your new available credit is severely reduced when you move everything to one card and cancel the others, since it looks like you are using up most of your available credit.

Another thing I would add is to watch out for late fees and over the limit fees. If you do not pay on time, or if you go over your limit, many credit card companies will revoke your special interest rate and immediately charge you the "default" rate, which is often much, much higher.