Oldest open item rule check:

Check rule of the BP

Rule Z1 having check of oldest open item by 1 day

Already open AR item exist on Customer account

Created sales order with 1 qty, credit check failed as oldest open item is 27 days overdue.
Overdue open item check:

Check rule of the BP

Rule Z3 having overdue open items by 1 day

Already open AR item exist on Customer account

Created sales order with 1 qty, credit check failed but message is different