The 18-year-old wannabe rocker - who was sensationally axed from the ITV1 show on Tuesday after boasting about taking cocaine - admitted while he has tried the illegal drug "six times", he is not addicted and is simply "an idiot".
He said: "I've never bought cocaine myself but I've done it about six times when I've been p****d and it has been offered to me. The most I've done is four lines in one go. I'm not an addict - I'm an idiot.
"I will regret this for the rest of my life. I was an idiot, it was stupid. It wasn't very role model-like. I let the fans down and I apologise. I also want to say sorry to my mentor Gary Barlow and all the people on the show. Basically, I screwed up."
The party-loving lothario - who claims to have bedded 74 women - explained while he's aware he's not a "genuine rock star", he hopes to follow in the footsteps of George Lamb and become a TV presenter off the back of his 'X Factor' experience.
Frankie added in an interview with The Sun newspaper: "I'd like to be like George Lamb - he's cool. I don't know if I'd get very far in music. I know I'm not a great singer. There are loads of genuine rock stars and I'm not one of them.
"Yeah, I ruined my chances on 'X Factor'. But I hope I'll get a career out of it somehow. I don't want to be back on the dole."
Meanwhile, axed former contestant Amelia Lily - who alongside 2 Shoes, Jonjo Kerr and James Michael stands a chance of going back into the competition tomorrow night - admitted after her close friendship with Frankie while she was in the 'X Factor' house, it feels "bittersweet" to potentially be his replacement.
She told BANG Showbiz: "Obviously it's very sad that he's had to leave the competition. But it's also very nice that it's given me an opportunity. You could say it is bittersweet."