Compare low rate and business credit card options from Newcastle Permanent.
Newcastle Permanent offers two credit card alternatives to applicants. The personal credit card offers competitive interest rates and interest-free days while the business credit card boasts unlimited cards with individual limits and multiple payment options to help manage your corporate expenses.
This financial institution also offers different types of products and services, which include savings and transaction accounts, home and personal loans, as well as credit cards.
Primarily servicing cardholders in the Northern Rivers, New England, Mid North Coast, Central Coast, and Hunter regions, you can use this guide to compare your options with Newcastle Permanent.
Comparison of Newcastle Permanent Credit Cards
Types of credit cards that Newcastle Permanent offers
Newcastle Permanent offers Visa credit cards to suit both personal and business applicants. You can compare your options below:
Low rate credit card
The Newcastle Permanent Value+ credit card is a low rate card that offers 11.49% p.a. on purchases, cash advances and balance transfers. The card also has a competitive annual fee of $49 and up to 55 interest-free days on purchases when you pay your balance in full in the statement period. As a Visa card, you can look forward to global acceptance and the convenience of payWave contactless payments.
Business credit cards
The Business+ Credit Card that Newcastle Permanent is suited to businesses looking for overdraft facilities and a convenient line of credit. You can easily manage employee expenses with unlimited additional credit cards with individual credit limits under the single account. You can also take advantage of up to 44 interest-free days and ongoing 13.2% p.a. interest rates. Note that you'll need to pay an annual fee of $55 for each card.
Benefits of the Newcastle Permanent Credit Card
While Newcastle Permanent credit cards don’t offer the bells and whistles you might associate with a premium credit card, cardholders are privy to various benefits:
Worldwide access and other Visa benefits
Merchants across the globe accept Visa credit cards, so you can use your Value+ Credit Card or Business+ Credit Card just about anywhere in the world. This means you can enjoy Visa perks such as Visa Entertainment and Visa payWave.
The Business+ Credit Card allows an unlimited number of cardholders under a single account and the Value+ Credit Card offers up to three additional cards for no extra cost.
Multiple ways to access account details
If you want monitor or manage your Newcastle Permanent account, you have the choice of visiting a branch or using phone, internet and mobile banking.
You can use your Value+ Credit Card to transfer balances from existing credit cards and all you have to do is submit a balance transfer application form. The minimum you can transfer is $500 and the maximum depends on your credit limit. Any transferred amount attracts the card’s cash advance rate.
How to apply for a Newcastle Permanent Credit Card
You apply for a Newcastle Permanent credit card online after selecting the credit card you're interested in. If you’re self-employed or a pensioner you’ll have to complete a paper-based application. This is because of certain complexities surrounding income documentation. In any case, make sure you meet the eligibility criteria, which, for the Value+ Credit Card, are as follows:
- You should be at least 18 years old
- You should be a permanent Australian resident
- Your annual income should not be less than $20,000
Required documents and information
To complete the application, you have to provide a variety of information, which includes the following:
- Personal details. These include your name, phone number, date of birth, address and driver’s license number.
- Employment details. These include your employer’s name and contact details.
- Financial information. You have to provide a detailed list of income from all sources, as well as assets and liabilities. These include details about savings, loan and credit card repayments. Employed individuals should provide their most recent payslips and self-employed individuals have to submit financial statements and personal tax returns for the last two years.
What happens after I apply?
If Newcastle Permanent requires any extra information after you submit the application, a bank representative will get in touch with you. Once the bank receives all the required information, it will process your application and inform you of the decision in writing. If you're approved, you should expect to receive your card within 10 business days.
If you’re not an existing Newcastle Permanent customer you will have to complete an identification verification process. You can complete the required formalities either by visiting a Newcastle Permanent branch or at an Australia Post office.Back to top
Frequently asked questions
What repayment options do I have?
One way to make a payment is to visit a branch and pay by cash or cheque, or you can also mail in a cheque. You can make payments through electronic funds transfer using any Australian bank account. You can also make payments via BPAY.
What is the minimum and maximum credit limit, and how can I change my card’s limit?
The minimum credit limit this card comes with is $500 and its maximum limit stands at $20,000. When considering your application, the bank takes several aspects into account before assigning you a credit limit. You can request for an increase or decrease in your credit limit, but there is no obligation on the bank to honour your request. You can apply for an increase in your card’s limit online.
What fees might I have to pay?
The Value+ Credit Card attracts a nominal annual fee, which you have to pay every year you keep the account active. If you’re late in making payments, you’ll have to pay a late payment fee. Other fees can include cash advance fees, direct debit dishonour fees, foreign currency conversion fees, card replacement fees, and replacement statement fees.
Do Newcastle Permanent credit cards offer reward points or rewards?
No, this is not currently a feature offered by Newcastle Permanent.
What should I do if I lose my card?
You should report lost or stolen cards as soon as possible. You'll need to call Newcastle Permanent directly to do this.
How can I cancel my card?
If you wish to cancel your card you can do so by writing to the bank, by visiting a branch, or even over the phone. You should return your card to the bank or destroy it to prevent fraudulent usage. The contract ends when you pay the outstanding balance in full, and until then you remain liable for money owing through transactions as well as fees and charges.