With money tight and credit card interest rates on the rise, a balance transfer card with a zero-percent APR is mighty appealing. And there are lots of cards making this offer. But is this the way you want to go?

"Consumers need to take a good hard look as to whether it pays out to do a balance transfer," says Bill Hardekopf, of lowcards.com

Hardekopf says the only way to know is to check all the terms and conditions. First, what's the transfer fee?

"You are charged 3 percent on your entire balance transfer on most cards. But some are now charging 4 percent."

That zero balance only applies to the transfer.You'll pay a much higher interest rate if you make new purchases.

Keep in mind: your monthly payments pay off the balance transfer first, while the interest adds up on those new charges.

That will change next year when the Credit Cardholders Bill of Rights takes effect.

Finally, find out how long that low-rate lasts. The norm these days is six months.

But some cards now say the rate is fixed for "up to six months." What's with that?

For More Information:

9 things you should know about balance transfers

LowCards: Balance Transfer Cards

The new rules of credit cards