Yep, there are lots of muppets working in the banks. Just before Christmas was in the process of churning a cc to get 100k QF points and ran into a problem with substantiating my income. My income is a stream (tax free) from a defined benefit super scheme and also a not inconsiderable amount from a couple of share holding dividends.
First I sent copies of my bank statements showing fortnightly income from my super stream for last 3 months. Not good enough - wanted to know opening and closing balances for my super account and how long it would last and bank statements for 6 months. WTF!
Had difficulty in convincing them that I didn't have an opening and closing balance as such, and that the income was for the term of my life. (I didn't complicate by saying it extended for the term of my spouse's life too.)
Next up, the share divs. Wanted to see evidence of dividend payments - sent copies of dividend payment advice for last year of dividend payments and cross referenced to bank statement. Almost there, but then wanted too know when next payments were due. Ironic really as next div payment due was from their bank.
Finally they thought I wasn't too great a risk to allow me $15000 credit (all I asked for). 100K points showed in my QF a/c about 6 weeks later.
Now just have to work on getting my cc annual fee reimbursed, as a shareholder perk.
These CSOs obviously need to be better informed and trained in order to be capable of dealing in a professional manner with retirees, many of whom have as much, if not more, disposable income than when they were working.
Interestingly my credit rating is still 'superb' and has just bounced so it may be time to churn again. "Let's Churn Again Like We Did Last Summer" (apologies) etc. Maybe I should make it a seasonal thing. I know wife needs a new one.