SECURITIES AND EXCHANGE COMMISSION

                           Washington, D.C.  20549



                                 FORM 8-K



                              CURRENT REPORT 
                Pursuant to Section 13 or 15(d) of the
                   Securities Exchange Act of 1934

            Date of Report (Date of earliest event reported):

                           August 20, 1998

                        METRIS MASTER TRUST
                      METRIS RECEIVABLES, INC.
               (Originator of the Metris Master Trust)
        (Exact name of registrant as specified in its charter)


	Delaware				                   033-99514				       41-1810301
(State of Incorporation)		(Commission File Number)	(IRS Employer 
                                                    Identification No.)



        4400 Baker Road, Suite F470, Minnetonka, Minnesota   55343
					            (Address of principal executive offices)	


                            (612) 936-5077
         (Registrant's telephone number, including area code) 







                           METRIS RECEIVABLES, INC.
                         Current Report on Form 8-K



Item 7.		Financial Statements and Exhibits

        	Ex. 20a	Series 1996-1 July Certificateholders' Statement

        	Ex. 20b	Series 1997-1 July Certificateholders' Statement

        	Ex. 20c	Series 1997-2 July Certificateholders' Statement

                                   SIGNATURE


		Pursuant to the requirements of the Securities Exchange Act of 1934, the 
Registrant has duly caused this report to be signed on its behalf by the 
undersigned hereunto duly authorized.

                        									METRIS RECEIVABLES, INC.



                        								By /s/ Paul T. Runice					
								                               Treasurer 




Dated:  August 20, 1998
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 1836}]
[{"company-data": {"conformed-name": "METRIS RECEIVABLES INC", "cik": "0001003563", "assigned-sic": "6189", "irs-number": "411810301", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-23961", "film-number": "98695114"}, "business-address": {"street1": "4400 BAKER RD", "street2": "STE F470", "city": "MINNETONKA", "state": "MN", "zip": "55343", "phone": "6129365077"}, "mail-address": {"street1": "4400 BAKER ROAD", "street2": "SUITE F470", "city": "MINNETONKA", "state": "MN", "zip": "55343"}, "former-company": {"former-conformed-name": "FINGERHUT FINANCIAL SERVICES RECEIVABLES INC", "date-changed": "19951117"}}, {"company-data": {"conformed-name": "METRIS MASTER TRUST", "cik": "0001003564", "assigned-sic": "6189", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "033-99514-01", "film-number": "98695115"}, "business-address": {"street1": "4400 BAKER RD", "street2": "STE F470", "city": "MINNETONKA", "state": "MN", "zip": "55343", "phone": "6129365077"}, "mail-address": {"street1": "4400 BAKER ROAD", "street2": "SUITE F470", "city": "MINNETONKA", "state": "MN", "zip": "55343"}, "former-company": {"former-conformed-name": "FINGERHUT FINANCIAL SERVICES MASTER TRUST", "date-changed": "19951117"}}]
SECURITIES AND EXCHANGE COMMISSION

                           Washington, D.C.  20549

                                 FORM 8-K

                              CURRENT REPORT 
                Pursuant to Section 13 or 15(d) of the
                   Securities Exchange Act of 1934

            Date of Report (Date of earliest event reported):

                           August 20, 1998

                        METRIS MASTER TRUST
                      METRIS RECEIVABLES, INC.
               (Originator of the Metris Master Trust)
        (Exact name of registrant as specified in its charter)

	Delaware				                   033-99514				       41-1810301
(State of Incorporation)		(Commission File Number)	(IRS Employer 
                                                    Identification No.)

        4400 Baker Road, Suite F470, Minnetonka, Minnesota   55343
					            (Address of principal executive offices)	

                            (612) 936-5077
         (Registrant's telephone number, including area code) 

                           METRIS RECEIVABLES, INC.
                         Current Report on Form 8-K

Item 7.		Financial Statements and Exhibits

        	Ex. 20a	Series 1996-1 July Certificateholders' Statement

        	Ex. 20b	Series 1997-1 July Certificateholders' Statement

        	Ex. 20c	Series 1997-2 July Certificateholders' Statement

                                   SIGNATURE

		Pursuant to the requirements of the Securities Exchange Act of 1934, the 
Registrant has duly caused this report to be signed on its behalf by the 
undersigned hereunto duly authorized.

                        									METRIS RECEIVABLES, INC.

                        								By /s/ Paul T. Runice					
								                               Treasurer 

Dated:  August 20, 1998