Ch 4 Base Segment Field 26

The video discusses Base Segment Field #26, "Date Closed," from Chapter 4 of the Metro 2 Credit Reporting Resource Guide, helping readers use Metro 2 to accurately read credit reports, identify errors, and draft dispute letters to consumer reporting agencies (CRAs). This field records the date an account was closed to further purchases, paid in full, transferred, or sold, applicable to all portfolio types. Notably, for line of credit, open, or revolving accounts (e.g., a credit card), a balance may still exist post-closure—contrary to common assumptions.

Verifying this date on a report is key; errors like an incorrect closure date or a missing date despite a reported balance can be disputed, using Metro 2’s standard to challenge inaccuracies in dispute letters to CRAs.