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Well now. Looks like Google’s getting serious about its plays in the financial sector. Very serious. The internet giant has launched its own credit card, with UK businesses the first able to use it.
Strictly speaking, the “Google AdWords Business Credit card” to give it its proper name can’t be used to go on a spending spree at your favourite retail outlet. In fact, it serves one purpose and one purpose only: buying Adwords.
According to Brent Callinicos, Google’s treasurer the company decided to launch the product because people “weren’t buying Adwords as much as they need to”. The new credit card is designed to help people who can’t afford to buy Adwords right now but might be able to in the future. Sounds foolproof.
Google claims that its interest rate of 11.9% is low and that the offer represents “generous” terms.
UK tech news site The Register, reports that the card can only be applied for with an application ID that comes with an invitation.
Google is reportedly planning to roll the credit card out to other countries soon, although it has yet to make any firm promises on a date. It’s also unclear whether the extra fee that applies to international transactions will also apply to future roll outs of the product.