Metro 2® Reporting Codes
Metro 2 reporting codes are used to identify important information about a consumers credit status with a business.
Businesses who report their consumers credit history to a credit bureau use a standardized reporting format called the Metro 2® Format. Reporting codes are listed and described in detail in the Metro 2 Credit Reporting Resource Guide.
What Are They & How Do I Use Them
A Metro 2 Reporting Code can cover many aspects about a consumers credit status such as: Account Type, Paid Off, Past Due, Bankruptcy, State and Country of Origin and many many more.
The codes all have a definition and are used to keep information uniform and they also make Metro 2 filesizes much smaller. For example rather than report “Paid In Full Was A Collection” you report code “62”. The credit bureau will interpret the code in their system with the proper definition.
Some codes are required. Some codes are only required under specific conditions. Some codes only apply to some business types such as Collection Agencies use specific codes different from a Mortgage Lender.
Where Do I Find Them
Metro 2 Reporting Codes can be found in the Metro 2 Credit Reporting Resource Guide from the CIDA Online. Contact them to obtain a copy of the specification.