You can blame your parents for not teaching you about money or your credit card company for not hounding you enough about paying your bills. It does not matter. You have credit card debt and destroyed your credit history. Now that you really do need a loan or extra cash from a credit card, how will your bad credit history affect your chances of getting a credit card?
If you've tried applying for a credit card or loan, you already know it's near impossible. You have poor credit because you did not pay your bills on time or you did not pay your bills at all. Lenders and creditors see this. They've pinned you with a bad reputation. If you did not pay your bills before, why are you going to pay them now or in the future? You've ruined your financial reputation and the only way to fix it is to prove that you can pay your bills.
How do you prove this? You pay your bills. You might be thinking, nobody will give you a loan, so how can you prove anything? First of all, look at all your expenses. Do you have a mortgage or car loan? Those are perfect to help you increase your credit score. If you continue to pay them on time every month, maybe even early, your credit will get better.
It's a good possibility that you do not have a car loan or mortgage. That is okay. You do not have to have a loan in order to prove you can pay your bills. You do have other bills, do not you? Although they probably will not improve your credit as quickly, they will certainly help. If you have utility bills such as water, electricity, phone, internet, and any other utilities, you must pay them all on time in full. If you do not have a mortgage, you probably have rent; pay that on time every month as well. Any other expenses should be the same. Always pay on time your cell phone bill, cable, everything! You should always pay these bills on time anyway.
If you have credit card debt, you must pay it off. Do not even think about charging anything to a credit card until you have your debt paid off. If you are looking to buy a house and need a mortgage, you should concentrate on paying off all your debt first. Once you have all your debt paid off, you can begin to look for a mortgage. If you credit is still too poor, think about getting a credit card specifically designed for people with less than stellar credit. They have low limits and high interest, but if you always pay off the balance every month, you will not be charged interest and you will help improve your credit score quicker.