What is a "Credit Switch" and how does the process work, any examples please.?

Answer 1

Finance companies, mortgage companies, banks advertise an interest rate on a loan. You apply for the loan. You are told you do not qualify for the advertised rate. They then try to give you loan at a higher interest rate.
It is a variation of "bait and switch" sales tactics. For example, a car dealer advertises a car for sale at an obviously low price. You go to the dealer to shop for the car. Sales people lead you to cars they have for sale, and you never get to see the one advertised. This practice is unethical, and in some cases, illegal.