For a number of years, I have had an RBS CashBack Platinum Mastercard which I kept in good standing. In December, my statement did not arrive and I missed the payment.

I received a call from the company a week after the due date. I explained the situation and made an electronic payment immediately. With my next bill, I saw that my entire balance, previously at a 5.99% promotional rate, had jumped to a 26.24% rate!! Unlike other companies I have dealt with over the years, several calls to explain the situation and work with the company did nothing. When I expressed my desire to close my account, I was informed that if I did so before the balance was paid in full, the rate would go 2 points higher!! Avoid this company at all costs. They are looking for a chance to play "bait and switch" regardless of your credit rating or history with them.