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

    All account type codes

    Identifies what kind of credit product the tradeline is, and pins it to a Portfolio Type. Every code has its own reference page covering when to report it and the cross-field rules it has to satisfy.

    00Auto Loan01Unsecured Loan02Secured Loan (Non-Specific Collateral)03Partially-Secured Loan04Home-Improvement Loan05FHA Home-Improvement Loan06Installment Sales Contract07Charge Account (Store Exclusive)08Real Estate, Type Unknown0AAgriculture Operating Loan0CDebt-Buyer Account0FConstruction Loan0GFlexible-Spending Credit Card (No Preset Limit)10Business Loan

    All Metro 2 code sets on one page

    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.

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    Account Type - Metro 2 Glossary