Account Terms
Current Balance: Definition
The total outstanding balance on an account.
Definition
Current Balance is the total amount owed on a credit account as of the Date of Account Information. For revolving accounts, this includes principal, interest, and fees. For installment accounts, it represents the remaining principal balance. This field directly impacts credit utilization calculations for scoring models.
Examples
05000 = $5,000 balance00000 = Zero balance (paid off)
Usage Notes
- Must be updated monthly
- Should never exceed Credit Limit for revolving accounts
- Zero balance does not necessarily mean account is closed
Related Metro 2 Fields
Related Terms
More Account Terms
Account Status
A code indicating the current condition of an account.
Account Type
A code specifying the type of credit account.
Account Number
The unique identifier assigned to a credit account.
Amount Past Due
The total amount currently overdue 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.
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