Msg#: 4623750 posted 1:19 pm on Nov 16, 2013 (gmt 0)
I got an invitation for a Google Credit Card today from Google Canada.
Here is the details. Interest rate 11.9% APR, can only be used for Google. No Points or Perks. Issued by Royal Bank of Canada.
It's by invitation only, and it is not pre-approved application. Owners personally liable for debt (personal guarantee, even for corporations).
Why would anybody use this card?
The credit card I use for Google, has the maximum perks. Since I spend six figures for adwords on my points card, Google is paying for my vacation every year.
I cant even use it as a novelty card, as it can only be used for adwords.
For Google, its a win-win. If a small business uses this card as a last ditch effort to stay in business, and folds, Google makes a ton of money in interest, and all they are really out is a few dollars in Google server time. It's not like they are selling anything tangible.
For Business it is lose-lose. If the business does not fail, they are using a card with no perks, which means no tax free benefits for the owners (technically not true, but the tax collector, rarely goes after credit card benefits).