or trace back prior fraud. Criminals are using data deletion requests / demands to cover their fraud so they can continue. I don't think as written, this legislation is going to hold up under the onslaught of criminal abuse.
I don't want to be rude, so please tell me if you do, but do you have a source for that? It sounds quite a lot like a "think of the children" argument and whilst I can see people having made that claim elsewhere, I don't see any actual cases of it being reported.
I believe that's incorrect under GDPR. There is a legitimate interest to keep records for fraud use, and also they must not delete anything that's required for regulatory compliance. GDPR is very clear on that.
or rent an apartment. or get a car loan. or a mortgage. or some kinds of jobs
Being employed is a useable workaround. I've never had anything other than a blank credit history and that usually just triggers a "Can I see proof you can pay" type question.