Google is known to have its fingers in many digital pies and now it is going to delve into vendor financing as well. The company launched
its new AdWords credit card, which would help small and medium US businesses in funding their online ad campaigns. So, now US businesses can just go ahead and spend crazy sums on their Google Ad programs, until the credit card bill arrives.
Google has co-branded its card with MasterCard and it will be issued via World Financial Capital Bank. The card will be offered to select clients and will carry 8.99 percent APR. The card is also reported to come with "ample" credit line. Though the company has enviable cash stash of $39 billion, we just hope Google has good credit assessment team in place and the company does not meet the fate of mortgage firms. The card is in the beta mode and as is customary for Google, will be available on invite-only basis.
Google Credit Card will bring a whole new dimension to corporate finance, making it easier to overspend on advertising, without bothering about the consequences. Though, the company is all set to paint it with philanthropic brush. Referring to the company's $39 billion cash pile, the company treasurer said that the launch of the credit card is mainly meant to help the businesses which do not have "necessary means" to promote their businesses.