Australians are ditching their credit cards in record numbers amid signs a general slowdown in lending for property investment and personal goods is accelerating into the new year.

Official figures compiled by the Reserve Bank show that for the first time the number of credit card accounts in a calendar year will fall.

Over the past 12 months the number of card accounts has dropped by 4.3 per cent with a little over 16 million now held by Australians. At its peak there was an estimated 17.4 million credit card accounts in the country.

The drop in credit cards is being offset by debit cards which are being embraced by shoppers, with the value of debit card transactions jumping by 12 per cent over the past year.

CommSec senior economist Ryan Felsman said a range of factors were making credit cards less attractive to ordinary shoppers.