The credit card will be issued by MasterCard and will come with no annual fee and a 8.99 percent annual percentage rate, but customers will only be able to use it for buying AdWords ads.
The purpose of the card is to help small and medium businesses ramp up their sales with intensive ad campaigns when needed – before holidays, for example – something many of them normally wouldn’t be able to do due to lack of funds.
“They are resource-constrained and they are often cash flow-strapped. Many of them are trying to grow a business without the kind of means that, say, your classic company has”, said Claire Johnson, vice president of global online sales at Google.
Google wouldn’t say to whom, exactly, it plans to offer the card, but claims that the maximum credit line will vary by cardholder. Select customers should get an invitation to start using the credit card in a “beta test” as soon as Wednesday.