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%.