[Letterhead of Metris Receivables, Inc.]





                                       June 18, 2002


Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C.  20549


                                       Re: Metris Master Trust
                                           Form 8-K


Ladies and Gentlemen:

              Attached, on behalf of Metris Master Trust (the "Trust") and
Metris Receivables, Inc. as originator of the Trust (together, the
"Registrants"), is the Registrants' Form 8-K being filed pursuant to the
Securities Exchange Act of 1934, as amended, and the rules thereunder.

                                       Very truly yours,

                                       /s/

                                       Ralph A. Than
                                       Senior Vice President and Treasurer


Attachment







                       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):  June 14, 2002


                               Metris Master Trust
                            Metris Receivables, Inc.
                     (Originator of the Metris Master Trust)
             (Exact name of registrant as specified in its charter)



           Delaware                    333- 60530              41-1810301
(State or Other Jurisdiction    (Commission File Number)     (IRS Employer
           of Incorporation)                              Identification Number)


     10900 Wayzata Boulevard, Room 723, Minnetonka, Minnesota         55305
        (Address of Principal Executive Office)                     (Zip Code)


Registrant's telephone number, including area code (952) 417-5645


                                       N/A
          (Former Name or Former Address, if Changed Since Last Report)





INFORMATION TO BE INCLUDED IN THE REPORT

Item 1.           Not Applicable.

Item 2.           Not Applicable.

Item 3.           Not Applicable.

Item 4.           Not Applicable.

Item 5.   The primary  assets of the Metris  Master Trust (the "Trust") are a
          pool   of   receivables   arising   under   certain   MasterCard(R)and
          VISA(R)revolving  consumer credit accounts. The receivables arising in
          these accounts are  transferred  and sold by Direct  Merchants  Credit
          Card Bank,  National  Association  ("Direct Merchants Bank") to Metris
          Companies  Inc.   ("Metris")   pursuant  to  a  receivables   purchase
          agreement,  subsequently  transferred  and sold by  Metris  to  Metris
          Receivables,   Inc.  ("Metris   Receivables")  pursuant  to  a  second
          receivables  purchase  agreement,   and  then  transferred  by  Metris
          Receivables   to  the  Trust  pursuant  to  a  pooling  and  servicing
          agreement.

          Each  of the  receivables  purchase  agreements  and the  pooling  and
          servicing  agreement  have  been  amended  by  the  parties  to  those
          agreements,  effective as of June 14, 2002.  These amendments took the
          form set out in Item 7.

Item 6.           Not Applicable.

Item 7.           Exhibits.

The following are filed as Exhibits to this Report:

  Exhibit 4.1  Amendment  No. 1 to the Second  Amended and Restated
               Bank Receivables  Purchase Agreement,  dated as of June 14, 2002,
               between Metris  Companies  Inc., as Buyer,  and Direct  Merchants
               Credit Card Bank, National Association, as Seller.

  Exhibit 4.2  Amendment  No. 1 to the Second  Amended and Restated
               Purchase  Agreement,  dated as of June 14, 2002,  between  Metris
               Receivables,  Inc.,  as Buyer,  and  Metris  Companies  Inc.,  as
               Seller.

  Exhibit 4.3  Amendment  No. 1 to the Metris  Master  Trust Second
               Amended and Restated Pooling and Servicing Agreement, dated as of
               June 14, 2002,  among Metris  Receivables,  Inc., as  Transferor,
               Direct  Merchants  Credit  Card Bank,  National  Association,  as
               Servicer, and U.S. Bank National Association, as Trustee.

Item 8.           Not Applicable.

Item 9.           Not Applicable.





                                   SIGNATURES

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

                                  METRIS RECEIVABLES, INC.
                                  as Transferor, on behalf of the
                                  Metris Master Trust


                                  By:       /s/ RALPH A. THAN
                                  Name:     Ralph A. Than
                                  Title:    Senior Vice President and Treasurer

 June 18, 2002








                                                   EXHIBIT INDEX


Exhibit        Description



Exhibit 4.1
               Amendment  No.  1  to  the  Second   Amended  and  Restated  Bank
               Receivables  Purchase  Agreement,  dated  as of  June  14,  2002,
               between Metris  Companies  Inc., as Buyer,  and Direct  Merchants
               Credit Card Bank, National Association, as Seller.


Exhibit 4.2
               Amendment  No. 1 to the  Second  Amended  and  Restated  Purchase
               Agreement, dated as of June 14, 2002, between Metris Receivables,
               Inc., as Buyer, and Metris Companies Inc., as Seller.


Exhibit 4.3
               Amendment  No. 1 to the Metris  Master Trust  Second  Amended and
               Restated  Pooling and Servicing  Agreement,  dated as of June 14,
               2002,  among Metris  Receivables,  Inc.,  as  Transferor,  Direct
               Merchants Credit Card Bank,  National  Association,  as Servicer,
               and U.S. Bank National Association, as Trustee.
[{"type": "8-K", "sequence": "1", "filename": "form8-k.txt", "secsgml_size_bytes": 6212}]
[{"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": "02681583"}, "business-address": {"street1": "10900 WAYZATA BLVD", "city": "MINNETONKA", "state": "MN", "zip": "55305", "phone": "6124175645"}, "mail-address": {"street1": "600 SOUTH HIGHWAY 169", "street2": "SUITE 300", "city": "ST LOUIS PARK", "state": "MN", "zip": "55426"}, "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", "irs-number": "411810301", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-23961-01", "film-number": "02681584"}, "business-address": {"street1": "10900 WAYZATA BLVD", "city": "MINNETONKA", "state": "MN", "zip": "55305", "phone": "6129365077"}, "mail-address": {"street1": "600 SOUTH HWY 169", "street2": "STE 300", "city": "ST LOUIS PARK", "state": "MN", "zip": "55426"}, "former-company": {"former-conformed-name": "FINGERHUT FINANCIAL SERVICES MASTER TRUST", "date-changed": "19951117"}}]
[Letterhead of Metris Receivables, Inc.]

                                       June 18, 2002

Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C.  20549

                                       Re: Metris Master Trust
                                           Form 8-K

Ladies and Gentlemen:

              Attached, on behalf of Metris Master Trust (the "Trust") and
Metris Receivables, Inc. as originator of the Trust (together, the
"Registrants"), is the Registrants' Form 8-K being filed pursuant to the
Securities Exchange Act of 1934, as amended, and the rules thereunder.

                                       Very truly yours,

                                       /s/

                                       Ralph A. Than
                                       Senior Vice President and Treasurer

Attachment

                       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):  June 14, 2002

                               Metris Master Trust
                            Metris Receivables, Inc.
                     (Originator of the Metris Master Trust)
             (Exact name of registrant as specified in its charter)

           Delaware                    333- 60530              41-1810301
(State or Other Jurisdiction    (Commission File Number)     (IRS Employer
           of Incorporation)                              Identification Number)

     10900 Wayzata Boulevard, Room 723, Minnetonka, Minnesota         55305
        (Address of Principal Executive Office)                     (Zip Code)

Registrant's telephone number, including area code (952) 417-5645

                                       N/A
          (Former Name or Former Address, if Changed Since Last Report)

INFORMATION TO BE INCLUDED IN THE REPORT

Item 1.           Not Applicable.

Item 2.           Not Applicable.

Item 3.           Not Applicable.

Item 4.           Not Applicable.

Item 5.   The primary  assets of the Metris  Master Trust (the "Trust") are a
          pool   of   receivables   arising   under   certain   MasterCard(R)and
          VISA(R)revolving  consumer credit accounts. The receivables arising in
          these accounts are  transferred  and sold by Direct  Merchants  Credit
          Card Bank,  National  Association  ("Direct Merchants Bank") to Metris
          Companies  Inc.   ("Metris")   pursuant  to  a  receivables   purchase
          agreement,  subsequently  transferred  and sold by  Metris  to  Metris
          Receivables,   Inc.  ("Metris   Receivables")  pursuant  to  a  second
          receivables  purchase  agreement,   and  then  transferred  by  Metris
          Receivables   to  the  Trust  pursuant  to  a  pooling  and  servicing
          agreement.

          Each  of the  receivables  purchase  agreements  and the  pooling  and
          servicing  agreement  have  been  amended  by  the  parties  to  those
          agreements,  effective as of June 14, 2002.  These amendments took the
          form set out in Item 7.

Item 6.           Not Applicable.

Item 7.           Exhibits.

The following are filed as Exhibits to this Report:

  Exhibit 4.1  Amendment  No. 1 to the Second  Amended and Restated
               Bank Receivables  Purchase Agreement,  dated as of June 14, 2002,
               between Metris  Companies  Inc., as Buyer,  and Direct  Merchants
               Credit Card Bank, National Association, as Seller.

  Exhibit 4.2  Amendment  No. 1 to the Second  Amended and Restated
               Purchase  Agreement,  dated as of June 14, 2002,  between  Metris
               Receivables,  Inc.,  as Buyer,  and  Metris  Companies  Inc.,  as
               Seller.

  Exhibit 4.3  Amendment  No. 1 to the Metris  Master  Trust Second
               Amended and Restated Pooling and Servicing Agreement, dated as of
               June 14, 2002,  among Metris  Receivables,  Inc., as  Transferor,
               Direct  Merchants  Credit  Card Bank,  National  Association,  as
               Servicer, and U.S. Bank National Association, as Trustee.

Item 8.           Not Applicable.

Item 9.           Not Applicable.

                                   SIGNATURES

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

                                  METRIS RECEIVABLES, INC.
                                  as Transferor, on behalf of the
                                  Metris Master Trust

                                  By:       /s/ RALPH A. THAN
                                  Name:     Ralph A. Than
                                  Title:    Senior Vice President and Treasurer

 June 18, 2002

                                                   EXHIBIT INDEX

Exhibit        Description

Exhibit 4.1
               Amendment  No.  1  to  the  Second   Amended  and  Restated  Bank
               Receivables  Purchase  Agreement,  dated  as of  June  14,  2002,
               between Metris  Companies  Inc., as Buyer,  and Direct  Merchants
               Credit Card Bank, National Association, as Seller.

Exhibit 4.2
               Amendment  No. 1 to the  Second  Amended  and  Restated  Purchase
               Agreement, dated as of June 14, 2002, between Metris Receivables,
               Inc., as Buyer, and Metris Companies Inc., as Seller.

Exhibit 4.3
               Amendment  No. 1 to the Metris  Master Trust  Second  Amended and
               Restated  Pooling and Servicing  Agreement,  dated as of June 14,
               2002,  among Metris  Receivables,  Inc.,  as  Transferor,  Direct
               Merchants Credit Card Bank,  National  Association,  as Servicer,
               and U.S. Bank National Association, as Trustee.