Pffff I don't even have a credit card anymore. I canceled and shredded my cards when they raised my rates. And I paid off my balances within 90 days(so the rates really wouldn't affect me that much). It just ticked me off that the bank would do that to someone that was paying the bills on time.
What I do is I have a savings account with two month's salary saved up(at a minimum). I know it seems hard, but honestly, you have to put some money away each pay day. Think about every place you can cut corners. That way when you need the extra cash you have it. It's rough on you at first, but when you look and say, "Do I really need <new shiney>?" more often than not, the answer is no. Do I really watch the premium channels? Maybe I can cancel those for a few months. Wait until they have something on that I want to watch.
Buy things on sale. I know it sounds like a no brainer, but it's actually more difficult than most people think. Sometimes you have to visit several different stores to get everything you like. One store may have one thing you like on sale, and another has something else you like on sale. That's where the supermarkets get you. You come for the bargain on one thing, but end up spending more because the other items you want are priced higher than elsewhere. The only thing I don't skimp on is meats. Some places have good meat for a decent price, while others have really bad meats at sale prices.
Now really is the time to start being a penny pincher. Especially when you aren't sure when the economy will recover.
"I would rather be exposed to the inconveniences attending too much liberty than to those attending too small a degree of it." Thomas Jefferson