RealMoney Radio Recap: Credit Card Swap

Although the mention of Vonage (VG Quote) makes Jim Cramer "disapprovingly shake his head," its dud of an IPO created a good situation for MasterCard (MA Quote), he said on his "RealMoney" radio show Friday.

On May 24, Vonage went public with "one of the most disastrous IPOs" Cramer said he's ever seen. On that day, the stock, which was priced at $17, closed down more than 12%, he said.

Right after that, MasterCard went public and should have been priced in the $50s, but instead was priced in the $40s "because the sentiment over the Vonage IPO was so negative," Cramer said.

"After Vonage killed the market, the investment bankers felt they ought to move the price of MasterCard much lower," he said. "And today the stock hit $61."

There is no place people can make this kind of money other than the stock market, Cramer said. But now he believes MasterCard has gotten too pricey, and American Express (AXP Quote) has become "way too cheap."

It's time to sell MasterCard and buy American Express, Cramer said.

Apple Shines

"Apple (AAPL Quote) is one of the single best stocks in the market right now and is not nearly done going up," Cramer said.

This company is "an absolute situation," as its expectations got really low and business got really good, he said.