Field K1-4OptionalAccount Information
Metro 2 Field K1-4: K1 Creditor Classification
A code categorizing the original creditor's industry (for example retail, financial, medical). Helps bureaus and consumers understand the nature of the original debt.
Quick Reference
Field Number:K1-4
Position:33-34
Length:2 characters
Type:code
Record:K1 Segment
Required:No
Allowed Values
| Value | Meaning |
|---|---|
| 01 | Retail |
| 02 | Medical/Health Care |
| 03 | Oil/National Credit Card |
| 04 | Government |
| 05 | Personal Services |
| 06 | Insurance |
| 07 | Educational |
| 08 | Banking |
| 09 | Rental/Leasing |
| 10 | Utilities |
| 11 | Cable/Cellular |
| 12 | Financial |
| 13 | Credit Union |
| 14 | Automotive |
| 15 | Check Guarantee |
Creditor Classification Codes: full reference
Two-digit code on the K1 segment naming the industry the original creditor operated in, so a purchased or placed debt can be recognised without naming the wrong party. Each code has its own page covering what it means, when to report it, and the cross-field rules it has to satisfy.
Validation Rules
- Must be a valid classification code (see error k1-creditor-classification)
- Describes the ORIGINAL creditor's line of business, never the furnisher's own
Examples
0212Common Errors
- Invalid or guessed classification code
Tips & Best Practices
- Medical debt commonly uses 02 — classify accurately for transparency
Related Fields
Other Account Information
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