sure is, it is credit fraud. (especially if you are using a fake name!!!!!)
Depends mainly on what information you falsely supply to a credit provider.
If that information results in you accessing credit that you would not otherwise obtain, then you can get into all sorts of problems.
Most credit contracts contain a clause that covers the discovery of incorrect information supplied by the applicant after credit has been given. You are essentially at that point in "Default" of your contract.
For credit cards that could mean:
1. Closure of the account and a demand for the full amount outstanding,
and
2. Cancellation of any reward points earned on the credit card.
and
3. Reporting to a credit bureau the default.
In saying that many a white lie is told on credit application, so the onus rests with the credit provider to best assess the risk.
Cheers