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Google offering Business Credit Card For Adwords Purchases
AdWords Business Credit Card
TypicalSurfer




msg:4505609
 8:23 pm on Oct 8, 2012 (gmt 0)

Starting today, we’ll invite businesses to use AdWords Business Credit in the UK and extend more invitations in the US later this month. Here are a few details about the cards:

* In the UK, AdWords Business Credit will have a variable 11.9% APR Representative. In the US, AdWords Business Credit will offer an APR as low as 8.99%*, the same rate as in the pilot. Neither card will have annual fees, and they will both have an ample credit limit for AdWords.


[adwords.blogspot.co.uk...]

Extending credit to small businesses is a risky proposition. Extending credit solely for advertising purchases is unheard of (this isn't equipment or other goods that can be collaterallized).

Are advertisers so cash strapped that they need a credit line to buy adwords or is google willing to take on the credit risk in order to support revenue growth?

 

dstiles




msg:4505612
 8:34 pm on Oct 8, 2012 (gmt 0)

Interesting that they think UK will tolerate a vast difference in APR.

Still, it'll be nice to see a new brand of phishing spam that isn't reliant on impersonating banks. :)

herb




msg:4506012
 5:14 pm on Oct 9, 2012 (gmt 0)

Haven't seen the contract yet, will they be charging back for none payment by advertisers?

johnser




msg:4506025
 6:15 pm on Oct 9, 2012 (gmt 0)

Hubris.

I love the way super smart people (eg Top Google execs) often believe they're so smart they can't screw up.
Weren't they always top of their class so clearly they know best?

There's extremely sharp and ruthless investment bankers involved here who have persuaded Google to target small business owners / sole traders / individuals who shouldn't be buying advertising if they can't afford it without vendor financing at moneylender rates of APR.

(At least if you're doing vendor financing, you're probably savvy enough to get professional advice. Are sole traders?)

What can possibly go wrong....
(Misselling of Mortgages, PPI, MF Global etc - Read ZeroHedge for more)

Goodbye "do no evil"

TypicalSurfer




msg:4506036
 6:39 pm on Oct 9, 2012 (gmt 0)

@johnser

so true..I wonder whats next, the securitization of adwords loans, adwords default swaps..lol..maybe a bailout or two?

graeme_p




msg:4506310
 5:42 am on Oct 10, 2012 (gmt 0)

@johnser, what investment banks are involved? Google are doing this with Barclaycard and Comenity Capital Bank, neither of which is an investment bank. In fact, issuing credit cards (or selling mortgages to the public) is not (by definition) investment banking.

Furthermore, the UK credit card is issued by Barclaycard: Google is only providing branding and marketing.

People already pay for Adwords with a credit card. All this means is that you can now pay with a Barclaycard issued card with a Google logo on it that can only be used to pay for Adwords. Barclays gets some new credit card customers, Google gets customers who have a credit card that can only be used on Adwords so they can spend more on adwords than on elsewhere.

ember




msg:4506319
 6:32 am on Oct 10, 2012 (gmt 0)

I'm in the U.S. and my AdWords credit card has a $15K limit on it, way more than my regular credit card.

Tonearm




msg:4506330
 7:18 am on Oct 10, 2012 (gmt 0)

Is there any incentive to use this Google card instead of a regular credit card?

johnser




msg:4506337
 7:54 am on Oct 10, 2012 (gmt 0)

what investment banks are involved?


Hmmm, the investment bankers are very close to Google.
Do you think their retail colleagues came up with this on their own? I don't

Google is only providing branding and marketing.

... to sole traders / individuals who don't already have a credit card?
They're the channel without which this wouldn't happen

I'm in the U.S. and my AdWords credit card has a $15K limit on it, way more than my regular credit card.


No offence intended Ember & I don't know you but maybe there's a reason your regular credit card doesn't have a higher limit?

graeme_p




msg:4506437
 1:38 pm on Oct 10, 2012 (gmt 0)

Hmmm, the investment bankers are very close to Google.


What do you mean?

Do you think their retail colleagues came up with this on their own? I don't


Er.. yes. or Google did. Credit card issuers are always looking for new business, and putting someone else's brand on a card is not a new idea. There is a new twist in a card that can only be used to pay one seller.

IN what sense is someone working for another company a colleague? I am pretty sure the US bank involved is unconnected to any investment bank.

to sole traders / individuals who don't already have a credit card?


I doubt it. Most people already have a credit card unless they are a bad risk or do not want one. Barclays are not going to issue these cards much more easily than a Barclaycard branded card.

@ember, maybe you could get a bigger limit on your other card? It is also possible that the bank thinks business lending is lower risk as people tend to be more sensible about it, and they should get a return on it.

ember




msg:4506509
 3:34 pm on Oct 10, 2012 (gmt 0)

No offence intended Ember & I don't know you but maybe there's a reason your regular credit card doesn't have a higher limit?


@ember, maybe you could get a bigger limit on your other card?


My regular card has a $8,000 limit, which is plenty. I avoid using credit whenever I can.

graeme_p




msg:4506880
 11:09 am on Oct 11, 2012 (gmt 0)

Exactly. You could probably get $15k on your regular card as well if you wanted, and you would probably get a similar limit if you applied for a another new card.

I also avoid credit and have not asked for an increase in credit card limit for years.

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