Businesses in the
United Kingdom seem to be the lucky ones to be the first in the world to have
the chance of obtaining a Google Inc(NASDAQ:GOOG) credit card. However, it had
its trial runs in the US.
The Google Adwords
Business Credit Card is the formal name to the tool that can be used by small
businesses to rack up big bills for online ads they do not have funds to stump
up for at the time of purchase. Google’s treasurer, Brent Callinicos told the
FT that its smaller customers were not purchasing Adwords as much as they need
to. He hopes that the credit card will help cash-strapped customers to keep
their online ad presence at an impressive level by using the credit card.
Google said that the
card’s interest rate of 11.9% is low and that the offer stands for generous
terms.
The card can only be
used to buy AdWords. However, the documentation for the card consists of a few vestigial
terms from standard credit cards. Even cash advances are mentioned. Another
oddity is a 2.99% non-sterling transaction cost that will mean users need to
take care when making multinational ad purchases.
The card is not
applicable for everyone. Google says that people can only apply for the card
with an application ID and an invitation.
The United Kingdom is
the first nation to achieve the bounty of Google’s credit card. The USA and
other nations are supposed to follow suit but it is up to Google to set the
time.
Google’s venture into
credit arena comes at a time when Amazon has launched its Amazon Lending,
through which the online retailer’s small business sellers can use money for
purchasing inventory.
The Adwords Business
Credit card in the UK comes with a representative APR of 11.9%, while in the
US, rates start at 8.99%.
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