Personal loans, overdrafts and credit cards are common forms of debt. These are unsecured debts as most of the time they are not attached to any security such as your car or your home.
Before applying for credit its important to understand the differences between each of these different types of debts as they all have different features that may make some more beneficial to you and your needs than others. Its also important to consider the different costs of the type of credit you look at, as these can differ greatly.
Below is a quick explainer of common types of credit (links open as a new tab):
Affordable credit providers and responsible lenders should support households through difficult times.