While major banks sweat over the expected decline of eftpos volumes in coming years, credit cards are already floundering, according to an analysis of APRA data published by MWE Consulting.In the 12 months to the end of September balances on credit cards issued by all Australian banks expanded by only $253 million.That represents roughly a tenth of the growth recorded in 2007 when total credit card balances increased by $2.3 billion.The September quarter was a particularly bleak period for card issuers, with each of the major banks posting declines in card activity.ANZ and NAB each recorded declines in card balances of almost three per cent, followed by CBA (down 2.1 per cent) and Westpac (down 1.9 per cent).MWE principal Mike Ebstein said ING had been the only issuer to increase card balances during the quarter."Only ING showed a positive result and that was really due to the fact they had just launched," he said.Citibank's balances fell by $64 million during the quarter, but the value of outstandings rose by $903 million over 12 months."Citi is the sole issuer to report substantial growth over the 12 months to September and that was due to acquisition rather than organic growth," Ebstein said."The APRA data show the lack of moment in credit card balances."