Account Terms

    Account Type: Definition

    A code specifying the type of credit account.

    Definition

    Account Type is a two-character code that specifies the particular type of credit account within a Portfolio Type category. For example, within the Installment (I) portfolio type, account types include auto loans, personal loans, and student loans. This field helps credit bureaus and lenders understand the nature of the credit extended.

    Examples

    • 00 = Auto
    • 01 = Secured credit card
    • 02 = Unsecured credit card
    • 06 = Installment sales

    Usage Notes

    • Must be consistent with Portfolio Type
    • Should not change during the life of the account

    Related Metro 2 Fields

    15
    Account Type
    Position 84-85

    Related Terms

    Portfolio TypeTerms Frequency

    More Account Terms

    Account Status
    A code indicating the current condition of an account.
    Account Number
    The unique identifier assigned to a credit account.
    Amount Past Due
    The total amount currently overdue on an account.
    Current Balance
    The total outstanding balance on an account.
    Credit Limit
    The maximum amount of credit available on a revolving account.
    Highest Credit
    The highest balance ever recorded on the account.
    Original Loan Amount
    The initial amount borrowed on an installment account.
    Scheduled Monthly Payment Amount
    The regular monthly payment due on an account.

    Simplify Credit Reporting

    Metro2 software handles all the complexity of Metro 2 format compliance, so you can focus on your business.

    View PricingBrowse All Terms