Google Credit Card Search
Saturday, April 10th, 2010Google have released a new site which is set to rival the top UK credit card comparison sites. Compare UK credit cards was launched in February and many of the top credit card companies have signed up to be part of the service.
Google promise to make a search on their site take less than a second and there are various search options that enable a suitable credit card to be selected. Options include personal details such as income, age and credit rating as well as preferences such as card issuer and reward schemes.
Ian Morgan, industry head at Google, said:
‘We hope this new ad unit will help users easily find and compare credit card offers without the need to reveal personal information, while providing advertisers with a sophisticated and flexible cost-per-lead model.’
The credit card site is part of Google’s Adwords Comparison Ads which was firstly introduced in the US with mortgage related queries. It seems to be working as an affiliate site.
Although Google seem to have changed this now, when you performed a search on Google for credit cards often the top result on the pay per click section at the top of the page was the sponsored credit card comparison site. The top paid search spot is currently no longer given to the Google site in all cases. Perhaps they are taking note of the critisisms levied at them.
In theory if all the major cards sign up then this will be a great service but at what cost to other businesses? Google will certainly be using their power to give MoneySupermarket.com and GoCompare.com a run for their money.
Presumably the plan is for Google to create other financial search affiliate sites. Is Google abusing their position as the site that is used to perform up to 80% of all searches in the UK? Will companies be forced to advertise with Google simply because it uses its advantage in UK search to funnel people into their comparison sites?
