Credit card issuers chase new business as balances continue to fall 02 September 2015 3:51PM John Kavanagh The consumer credit market is flat and credit card balances are in decline but card issuers seem keener than ever to win new business.According to the latest Reserve Bank lending data, there was no growth in consumer credit balances in July, compared with the previous month, and growth of only 0.9 per cent over the 12 months to July.Australian Prudential Regulation Authority figures show that the credit card market is the hardest hit segment of the consumer finance market, with card balances falling by 1.5 per cent in July, compared with the previous month. Credit card balances have been falling for six months.Over the six months to July the value of Macquarie Bank's credit card book has fallen by 4.1 per cent, Commonwealth Bank's by 2.6 per cent, Bendigo and Adelaide Bank's by 2.1 per cent and ANZ's by 1.4 per cent.National Australia Bank's credit card book has been flat over the six months and Westpac's has grown by 0.9 per cent.Weak conditions in the credit card market have not deterred banks from competing hard for business. Last month Westpac increased the term of the zero rate balance transfer offer on its Low Rate Altitude from 16 months to 20 months, according to comparison site Mozo.ANZ offers a zero balance transfer deal for 16 months on its Low Rate, Low Rate Platinum, Platinum and First cards. NAB has a 15-month zero rate balance transfer offer on its rewards cards.According to Mozo, Citibank offers the longest balance transfer deal - zero rate for 24 months on its Platinum Card.ANZ has the biggest rewards points offer - 75,000 points for customers signing up for its Black card.