Lake Macquarie police have arrested and charged two men with drug and fraud offences following an investigation.

On 8 March 2016 a number of credit cards were stolen from vehicles in the Floraville area.

Numerous transactions were made with the stolen credit cards at varies locations across Newcastle and Lake Macquarie and an investigation commenced by Lake Macquarie Property Crime Unit.

About 10.30am yesterday (Wednesday 16 March 2016) police arrested two men in the vicinity of Perkins Street and taken to Newcastle Police Station.

Police also allegedly seized a number of credit cards and an amount of drugs.

The 29-year-old man was charged with five counts of dishonestly obtain property by deception and two counts of possess prohibited drug.

The 27-year-old man was charged with six counts of dishonestly obtain property by deception.

Both men were refused bail and will appear in Newcastle Local Court today (Thursday 17 March 2016).