Newcastle Permanent Value+ Credit Card

Information verified correct on December 10th, 2016

Enjoy the benefits of a Visa credit card with low, competitive standard rates and fees.

The Newcastle Permanent Value+ Credit Card is designed to offer both convenience and affordability. It features a low standard variable interest rate for purchases, balance transfers and cash advances, a competitive annual fee, and up to 55 days interest-free.

As a Visa option, this card can be used all around the world, anywhere Visa is accepted. It also offers the convenience of contactless payments through Visa payWave and the security of Visa's Zero Liability policy.

Product NameNewcastle Permanent Value+ Credit Card
Maximum Balance Transfer AmountUp to available credit limit
Purchase rate (p.a.)11.49% p.a.
Annual fee$49 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)11.49% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$500
Minimum Monthly Repayment3% or $10, whichever is greater
Minimum Income$20,000
Card TypeVisa
Late Payment Fee$5
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
2% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$20,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$500
Annual Fee$49 p.a.
Minimum Repayment3% or $10, whichever is greater
Late Payment Fee$5
Cash Advance FeeThe greater of 1.5% or $2 per transaction
Overseas Emergency Replacement$100
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
2% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders3
BPAYYes
ChequeYes
Direct DebitYes
Phone BankingYes
Internet Banking TransfersYes
MailYes

Newcastle Permanent Value+ Credit Card review

The Newcastle Permanent Value+ Credit Card offers a competitive standard variable interest rate of 11.49% p.a. on purchases and up to 55 interest-free days on purchases if you pay the balance in full before the due date on each statement. It also offers a standard variable rate of 11.49% p.a. for balance transfers and cash advances.

In addition to these features, the Newcastle Permanent Value+ Credit Card offers phone and Internet banking, up to 3 additional cardholders and a competitive annual fee of $49.

Benefits of the Newcastle Permanent Value+ Credit Card

The Newcastle Permanent Value+ Credit Card offers a range of benefits, including:

  • Low standard purchase rate. This credit card has a standard variable interest rate of 11.49% p.a. that could help you save money on your credit card spending.
  • Interest-free days. This card allows you to save money on new purchases by offering up to 55 interest-free days if you pay your balance in full by the statement due date. Note that interest-free days only apply to purchases, and not cash advances or balance transfers.
  • Low annual fee. This card has a standard annual fee of $49.
  • Visa benefits. The Newcastle Permanent Value+ Credit Card comes with a range of Visa benefits including worldwide access (anywhere Visa is accepted), Visa payWave tap-and-go payments, online shopping convenience with Visa Checkout and the security of Visa's Zero Liability policy against fraudulent transactions.
  • Additional cardholders. If you want to share your credit card account with a family member, you can request up to 3 additional cardholders with $0 additional fees.

Features of the Newcastle Permanent Value+ Credit Card

Other features of the Newcastle Permanent Value+ Credit Card include:

  • Minimum credit limit. This card offers a minimum credit limit of $500. Note that individual credit limits are subject to Newcastle Permanent's lending criteria and application approval.
  • Cash advance and balance transfer rate. This card has a standard variable rate of 11.49% p.a. for balance transfers and cash advances.
  • Foreign currency conversion fee. A fee worth 2% of the transaction will apply if you make a payment in a foreign currency when you're overseas or shopping online with an international retailer.
  • Cash advance fee. The greater of 1.5% or $2 per transaction will apply if you use your card to get cash out or for another "cash advance transaction" such as buying foreign currency.
  • Late payment fee. A fee of $5 applies if you do not make a payment by the due date on your statement.

How to apply for the Newcastle Permanent Value+ Credit Card

Applying for the Newcastle Permanent Value+ Credit Card is easy and can be done online in 10–15 minutes. Before you apply, you'll need to make sure you meet the following requirements:

Eligibility criteria

  • Age. You must be at least 18 years old to apply for this credit card.
  • Citizenship. You must be an Australian citizen currently residing in Australia.
  • Minimum income. You must earn at least $20,000 p.a. to apply for this credit card.

Required documents

If you meet the application criteria above, you can start your application for the Newcastle Permanent Value+ Credit Card. You'll need to include the following details:

  • Personal information, including your full name, date of birth, Australian driver's licence (where applicable) residential address, email address and contact number
  • Your employment details, including a copy of your most recent payslip. If you are self-employed, you will need to include your financial statements and personal tax returns for the last two years.
  • Other details about your income, assets and liabilities, such as regular expenses (rent, mortgage payments etc)
  • Details of any balance transfers from non-Newcastle Permanent accounts
  • Information about any additional cardholders (if applicable)
  • Any additional information that may be requested by Newcastle Permanent

After your application and supporting documentation is submitted, it will be reviewed and assessed for creditworthiness. Newcastle Permanent says you should receive a response within five working days. If you're approved, you will receive your new card and can activate it to start using it.

The Newcastle Permanent Value+ Credit Card provides affordable access to credit, with competitive standard interest rates and a low annual fee. But some other credit cards with similar rates may offer additional perks and extras, so make sure you compare a range of options to find the right option for your circumstances and needs.

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4 Responses to Newcastle Permanent Value+ Credit Card

  1. Default Gravatar
    Angela | October 14, 2015

    Hello. I am looking to apply for a personal loan from Newcastle Permanent to pay off high rate credit cards with other banks(to clear my debt) and then also applying for a lower rate credit card with you, of say $3,000. How long does the approval process usually take for both of these products?

    • Staff
      Jonathan | October 15, 2015

      Hi Angela, thanks for your inquiry!

      Credit card approval can be instant upon application approval or conditional (Requiring validation of documents etc) which can take 2-3 business days, this also applies to personal loan applications.

      Cheers,

      Jonathan

  2. Default Gravatar
    Christina | May 18, 2015

    Under your Value+Credit Card do I have any type of cover for car hire abroad as in Insurance or Liability for injury to people or Free collision and auto theft cover. I understand a lot of visa card providers offer these sorts of cover. thank you

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Rates last updated December 10th, 2016
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NAB Low Rate Credit Card
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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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