NewPay review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Newpay suits UK adults who want a reusable credit limit for planned spending. Its 24.9% APR sits above the 12% site median, so the cost of borrowing is the price of that flexibility. Free early repayment helps if you can clear the balance early.

Key facts

Best for
Borrowing a reusable credit line for planned spending rather than one-off emergencies.
APR
24.9% (Source, checked September 26, 2026)
Loan amount
£100 to £4,000 (Source, checked September 26, 2026)
Term
6 to 48 months (Source, checked September 26, 2026)
Credit check
Soft prequal (Source, checked September 26, 2026)
Representative example
24.9% APR representative (variable), 24.95% P.A. purchase rate (variable), GBP1,200 assumed credit limit (Source, checked September 26, 2026)
Rate type
Variable (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Free early repayment
Yes (Source, checked September 26, 2026)
Eligibility
18 or over with a regular income, UK resident at least 12 months, current UK bank account, valid email and mobile number, no existing Newpay account (Source, checked September 26, 2026)
Loan types
BNPL, Credit-line (Source, checked September 26, 2026)
Legal entity
NewDay Ltd (Source, checked September 26, 2026)
Headquarters
United Kingdom (Source, checked September 26, 2026)
Support channels
Help-centre, Phone, Email (Source, checked September 26, 2026)
Features
Credit line
Official website
newpay.co.uk

Apps and profiles

Get the app
Google Play
Elsewhere
TrustpilotLinkedIn

Pros and cons

Pros

  • Free early repayment, so clearing the balance sooner costs no extra
  • 24.9% APR on a variable rate, so the cost tracks the wider market
  • A credit line of £100 to £4,000 that can be reused rather than repaid and reapplied for
  • Support runs on help centre, phone and email for day to day questions

Cons

  • 24.9% APR is a variable rate, so payments can move with the market
  • Eligibility is tight: adults with a regular income, a UK bank account and a UK residence
NewPay

Ready to try NewPay?

Scored 9.0 / 10 by BorrowCue.

See alternatives

Who it suits

  • Adults with a regular UK income who want a reusable limit rather than a one-off loan
  • Shoppers who expect to pay down the balance early and value free early repayment
  • People who prefer a variable rate that tracks the market over a fixed price

Who should look elsewhere

  • Anyone wanting a fixed rate, since this is a variable rate lender
  • Borrowers who need a large sum, as the limit runs to £100 to £4,000

How it compares on our data

On loan amount, Newpay sits at 516 of the 685 brands we track, and on APR it ranks 267 of 350. Its 24.9% APR is a variable rate, so it should be read against the 12% median APR across the market rather than against a single quoted rate. On amount, the £100 to £4,000 limit sits inside the €114.37 to €3,100.39 band most brands fall in.

How NewPay compares

Where NewPay is available

Available
United Kingdom
Licence in United Kingdom
Financial Conduct Authority (682417), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What rate does Newpay charge?+

Newpay charges a variable rate of 24.9% APR, and the rate type is variable rather than fixed. That means payments can rise or fall with the wider market rather than staying set for the life of the balance. A representative example is published with the payment options.

How much can I borrow on a Newpay credit line?+

The credit line runs from £100 to £4,000. That range covers everyday spending rather than large projects, so anyone needing a bigger sum for a major purchase would have to look elsewhere. As a credit line, the limit is reusable: you draw on it and repay as you go.

How long do I have to repay?+

Repayment periods run from 6 to 48. Because the product is a credit line rather than a single loan, you set your own pace within that window, drawing and repaying as needed. Free early repayment means clearing the balance sooner carries no extra charge.

Is Newpay regulated?+

Newpay is licensed by the Financial Conduct Authority, so the money sits inside a regulated framework. It is also a direct lender, meaning you deal with the lender itself rather than a broker or comparison marketplace. The legal entity behind the service is named on the about us page.

Who can apply?+

Eligibility is aimed at adults with a regular income, a current UK bank account, a valid email address and mobile number, and a UK residence for a minimum period before you can apply. Applicants must not already hold an account. A regular income and a settled UK address are the real filters.

Does applying affect my credit file?+

The credit check here is a soft prequalification, so checking eligibility leaves little trace on your file. A full check is likely only once you take on the credit line itself. That makes it safer to see whether you qualify before committing to the credit.

What support do I get?+

Support runs on help centre, phone and email. A dedicated help centre plus phone and email means questions about draws, repayments or eligibility can be raised in the way that suits you. Having a phone channel also helps when something urgent needs sorting between statements.

Is Newpay a loan or a credit line?+

Newpay offers both buy now pay later and a credit line, so you can use it for a purchase now or hold a reusable limit for planned spending. The credit line is the more flexible of the two, letting you draw and repay repeatedly. The rate applies across the credit arrangement.

Sources

  • newday.co.uk/contact-us checked September 26, 2026

    Backs: Support channels

    “For account enquiries or general complaints, send us a message via your online account manager, call us on 0333 220 2532 ... or email”

  • newpay.co.uk checked September 26, 2026

    Backs: Free early repayment

    “pay back anytime, fee free”

  • newpay.co.uk/about-us checked September 26, 2026

    Backs: Headquarters, Legal entity, Lender type, Licences

    “The registered office for these companies is: 7 Handyside Street, London N1C 4DA”

  • newpay.co.uk/how-to-apply checked September 26, 2026

    Backs: Credit check, Eligibility

    “A quick, no-risk check will let you know if you're eligible. This won't impact your credit score.”

  • newpay.co.uk/payment-options checked September 26, 2026

    Backs: Loan amount, APR, Features, Loan types, Rate type, Representative example, Term

    “With your Newpay account you can get a credit limit of up to GBP4,000 ... If you're spending over GBP100, an instalment plan might be right for you”

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Arrangement fee, Funding time.

NewPay

NewPay

Borrowing a reusable credit line for planned spending rather than one-off emergencies.

9.0/10See alternatives

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