OOpen (Pay-in-Full) Accounts
Portfolio Type O: Open
Portfolio Type O means "Open". Pay-in-full agreements where the balance resets each cycle rather than revolving, including utilities, charge accounts, child-support obligations, and rental agreements. Nothing is meant to be carried forward. It is reported in Portfolio Type (Field 14) of the Base Segment, 1 character at position 83.
Specification
| Code | O |
|---|---|
| Meaning | Open |
| Field | Portfolio Type (Field 14) |
| Record | Base Segment |
| Length / position | 1 char · 83–83 |
| Category | Open (Pay-in-Full) Accounts |
| CRRG reference | CRRG Base Segment field definition, Portfolio Type |
What Portfolio Type O means
- The defining feature is that the full balance is due each cycle. There is no minimum payment, no revolving privilege, and no amortization schedule.
- This is the portfolio type for obligations billed periodically for services already rendered: electricity, water, telephone, rent, and court-ordered support.
- A classic charge card that must be paid in full monthly is O, not R, even though it looks like a card. What decides the field is whether a balance may legitimately be carried.
- O does NOT mean the account is open in the sense of not-closed. That is Account Status. An Open portfolio type account can be closed, and a Revolving account can be open.
- O does NOT have a credit limit in the revolving sense. Utility deposits and rental security deposits are not limits and should not be reported as Credit Limit.
- O does NOT mean small or informal. Child-support obligations reported under Account Type 93 can be substantial and carry serious delinquency consequences.
When to report O
- 1A municipal utility furnishes residential electric accounts (Account Type 92) billed monthly and expected to be paid in full each cycle.
- 2A property manager reports a residential rental agreement (Account Type 29) with the monthly rent as the recurring obligation.
- 3A state child-support enforcement agency furnishes an obligation (Account Type 93) with the monthly order amount and any arrears.
- 4A telecommunications carrier reports a postpaid service account billed monthly for the prior period's usage.
- 5A charge-card issuer reports a pay-in-full card where carrying a balance is not permitted under the cardholder agreement.
Reporting rules
- Report the amount currently owed in Current Balance and let it return to zero when the consumer pays. That cycling to zero is the expected pattern for O, not a data problem.
- Do not populate Credit Limit. There is no limit, and a populated one produces a meaningless utilization figure on an account type where utilization does not apply.
- Do not report a deposit as Highest Credit. Highest Credit on an Open account, where populated, is the highest amount billed, not collateral held.
- Do not use O for an account that permits a carried balance. If the consumer can pay a minimum and roll the rest, the account is R or C.
- Report rent and utility obligations only where you have the consumer's relationship and the legal basis to furnish, and follow the residential-rental and child-support industry guidance for status and delinquency treatment.
Codes and fields that must agree
A file can be structurally valid and still be wrong. These are the cross-field conditions Portfolio Type O has to satisfy.
- Valid Account Types include 29 (rental agreement), 92 (utility open account), and 93 (child-support obligation). Pairing O with 00 (auto loan) or 26 (conventional real-estate mortgage) is a portfolio-type-mismatch.
- Credit Limit should be blank or zero. A populated limit on Portfolio Type O is the single clearest signal that the account is really a revolving account mis-typed as Open.
- Utilization is not computed and is not meaningful for O. There is no denominator, which is why an Open account contributes nothing to a revolving-utilization measure.
- Terms Frequency is normally M, matching the billing cycle. Terms Duration is open-ended rather than a payment count, because there is no fixed number of payments to schedule.
- Scheduled Monthly Payment may be populated with the recurring billed amount for rent and child support, where a fixed obligation genuinely exists. It is not required in the way it is for Portfolio Type I, so the scheduled-payment-missing-installment edit does not apply.
- Actual Payment Amount is the more informative field on an Open account, because it is what proves the consumer paid the cycle in full.
- Delinquency on O is measured from the due date of the unpaid cycle, and Date of First Delinquency must be set from that missed cycle rather than from the date the account was referred for collection.
Common errors involving O
Vocabulary
Keep browsing
- All 5 portfolio types — the full set with categories and cross-field rules.
- Metro 2 codes cheat sheet — every CRRG code set on one page.
- Portfolio Type field reference — position, length, and validation rules.
- Metro 2 format reference
See Portfolio Type O in your own file
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