Credit cards and overdrafts are common types of credit, and you are likely to be offered them as a student.

Both can help you manage your finances, if used carefully. But they can also lead to debt problems.

Credit cards

If you use a credit card, be aware of the potential risks. Look out for:

• extra charges if you go over your credit limit or pay late
• deals that encourage you to spend more than you have

You might find it useful to read SaveTheStudent's guide to student-friendly credit cards.

Overdrafts

Overdrafts can help you make ends meet between loan payments or in an unexpected emergency.

But an overdraft is still a debt, and you might have to pay interest on it. Before using an overdraft, make sure you know:

• how much of an overdraft your account allows you, and how much of it is interest-free
• how much interest you might have to pay
• how you plan to repay.

Credit and debt guides on Blackbullion

You can access these courses and guides for free. Just sign in with your Hallam email address.

• Guide to credit cards - learn more about the risks and benefits
• Guide to overdrafts - understand how overdrafts works
• Debt pathway - create credit plans and avoid debt anxieties
• Risk pathway - explore risks and learn to make wise decisions