Account Terms
Date Opened: Definition
The date when the credit account was originally opened.
Definition
Date Opened indicates when the credit account was initially established. This date is critical for calculating account age, which is a factor in credit scoring. The date should reflect when the consumer first became obligated on the account.
Examples
03152020 = Account opened March 15, 2020
Usage Notes
- Should not change during account life
- Older accounts generally improve credit scores
- Must precede Date of Account Information
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.
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.
Simplify Credit Reporting
Metro2 software handles all the complexity of Metro 2 format compliance, so you can focus on your business.