Build credit fast. Build your credit with these 10 simple steps

Apply for a credit card. Choose one that offers the lowest interest rate and if possible one that offers a cash back percentage on purchases you make.

Check your budget. Find out how much cash you have left over at the end of the month, for an added purchase expense.

Use the credit card instead of cash to make the purchase. Make sure that you do not charge more than you can actually afford to pay at the end of the month.

Pay each credit card bill in full as soon as you receive it, so you do not establish yourself as a 'late' payer.

Realize that this method might not work for you, and follow another way of establishing credit.

Open checking and savings accounts. Lenders see bank accounts as signs of financial stability and consistent savings behavior. Given this, evidence of continuous use of checking and savings accounts increases your chances that a bank will offer you a credit card.

Alternatively, contact your bank or credit union, open a charge account with them, and deposit a specific amount of money 'into' the account. This is called a pre-paid charge account.

Charge as you need, but watch the balance. Remember this method only allows you to charge up to the amount deposited, and will count down, each time you make a purchase with it.

It will take 6 months to one year to build credit using a credit card. Usually 12 months or one year. Rated lines of credit have to be on the credit report for one year to count as credit

1. Charge no more than you can afford to pay
Get into a habit of charging only what you can afford, this will let possible lenders and creditors know you are responsible. It is easier to borrow money and get new credit when you show you know can borrow money and pay it back. Plus this will help avoiding excessive debt.

2. Use less than 30% of the credit you have
When you max out your credit cards or get close you will look irresponsible. Chances are good that you cannot afford to pay off a maxed out credit card balance. Creditors know borrowers who max out their cards have problems paying back what they borrowed. Try to stay below 50% of your credit limit and 30% is best.

3. Use only only one credit card
Many first-time credit card users accumulate a collection of credit cards within their first few years of using credit. Don't do this. The more credit you have, the more you'll end up using. Learn how to be responsible with credit before you apply for additional credit cards.

4. Pay your balance in full and on time
Pay off your balance each month and show that you're capable of paying your bills so creditors and lenders see a responsible consumer. Paying your balances on time will also improve your credit score.

5. Carry a balance the right way
Having a credit card balance isn't bad as long as you do it the right way. Make more than the minimum payment each month to pay off your balance as quickly as possible. Avoid making late credit card payments and continue to keep your balance at a reasonable level. If you follow these principles, carrying a balance won't hurt your credit.