With the Federal Reserve meeting on the horizon, Jim Cramer wants investors to be searching for stocks that could be bought regardless of what happens with interest rates.
And if the Fed provides a sternly-worded statement about the need for higher rates, Cramer expects that it could send the whole market into a nosedive.
"We know that the banks have been hammered … However, the non-bank financials, especially the payment plays, have been holding up pretty nicely," the "Mad Money" host said.
To gain further insight on the credit card and payment plays, Cramer turned to Bob Lang, founder of ExplosiveOptions.net and a colleague of Cramer's at TheStreet.
Lang took a look at the charts of Visa, Mastercard and PayPal, and found that the charts are looking up for all three. Many fund managers like to mirror the composition of the S&P 500 and want to have financial exposure, without buying the banks. Hence, they turn to non-bank financials like credit cards and payment processors because they don't need higher rates to make money.