Interesting economy isn’t it? Well, not as much as interesting as terrifying. But if you are able to take a step back and look at how one thing affects another it is really interesting to see how supply and demand works in this country – and globally as a matter of fact. Right now, lending has essentially halted in most respects as creditors – and the rest of us, for that matter – wait for more details regarding the bailout plan. The housing market watches with baited breath and everything is sort of just hanging in mid-air.

Retailers, already sensing that this is not going to be their best holiday season, are already starting to offer crazy deals in order to corner the market on those shoppers who will actually be spending money. Credit cards may be lowering limits now but they will soon be back in competition to earn your patronage. This is the time to start putting in the work to compare credit cards.

In the weeks to come we will see credit cards drop their rates, eliminate service fees, and even offer introductory time periods where no fees are accrued whatsoever. If you take the time to compare credit cards you could conceivably save yourself a significant amount of money and ultimately come out ahead in this crazy time in history.

Ultimately, no matter what happens with the economy it is up to each and every one of us to protect our own interests. Poor financial decisions project poorly on our credit report; that does not change even in the face of this economic climate. So take the time to check your credit report often through the use of free credit reports, reel in your spending and make sound financial decisions, and compare credit cards to determine other ways in which you could save.

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