100%. It's a coordinated judgement about who they can get to reliably make them a profit. "Pays the bills on time" is the biggest factor in your credit score.
If you look at each of them (payment history, how much credit is open and not used, how long has the credit been open, how often have they asked for more credit recently, how many types of credit do they have i.e house/car/cc) they all have to do with figuring out if you will pay them.
If the answer is yes, they will give you a giant whirlpool to spend. Once you have it you will likely make them a profit, because almost everyone does. Credit scores are just a way to tell if it's worth hooking you on "easy" money.
Bikeshedding is when instead of making important, compex decisions that have consequences for being wrong, someone focuses on the simple, low impact, minimally important part of a project that has no consequences if its fucked up.
I think the term comes from construction projects where instead of finalizing the design of a complex building, the execs spend the entire time talking about bike parking on site. What color to have the roof, how many bikes it should hold, etc.
Bikeshedding is about offloading responsibility while still feigning involvement. You, the owner, avoid the whole part of your job youre paid for, i.e "making the hard decisions" and through misdirection and inaction, make someone else do it. That way you can blame them later if things go wrong, or take credit for their work if they go right.