Google Announces a Bank?
Google has a plethora of projects going on at all times, some that we probably never hear about. One of their most daring and impressive thus far, very well may be their recent launch of a credit line in the UK.
With Google Finance already a prominent feature recognized throughout the world, it doesn’t seem out of the question for Google to pursue this new financial endeavor. In the next two weeks, Google will be extending this program to the US.
Google will be offering lines of credit ranging from $200 to $100,000 a month for customers to pay for Google AdWords. (For those of you unfamiliar with Adwords, it is Google’s signature advertising product.) For those parties interested in Google’s credit system, interest rates on credit cards will be 8.9% in the U.S. and 11.9% in the U.K.
The main benefits of the program are that it will be cheaper than using credit cards, as well as faster and easier than using conventional banks. As of now Google’s “bank” will only be offering commercial loans, so you’ll have to hold off on buying that dream car… for now.