Not To Be Confused With
New covenant theology sits between covenant theology (which keeps more continuity with the Mosaic law and infant baptism) and dispensationalism (which keeps Israel and the Church separate). It typically holds to believer's baptism.
New covenant theology stresses that the law of Christ supersedes the Mosaic covenant as a unit (Jer 31; Heb 8), so the believer is bound to Christ's commands rather than the old code. It reads the new covenant as genuinely new, while affirming one plan of salvation by grace through faith.