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Previous: ENDOCARE INC, S-3, 1997-03-19 |
Next: HEARTSTREAM INC/DE, DEF 14A, 1997-03-19 |
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):
Various
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 No.) (IRS Employer Ident. 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. 20 Settlement Statements
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/James M. Wehmann
James M. Wehmann
Vice President,
Assistant Treasurer
Dated: March 18, 1997
<TABLE>
Fingerhut Financial Services Receivables, Inc. FFS Master Trust Monthly Report
Certificateholder's Statement Series 1996-1 Apr-96
Section 5.2 Class A Class B Class C Class D Total
<C> <S> <C> <C> <C> <C> <C>
(i) Certificate Amount 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
(ii) Certificate Principal Distributed 0.00 0.00 0.00 0.00
(iii) Certificate Interest Distributed* 2,505,825.00 446,250.00 228,427.88 3,180,502.88
* Certificate Interest Distributed is based on 27 days.
(iv) Principal Collections 2,903,476.28 490,452.07 280,258.33 307,301.69 3,981,488.37
(v) Finance Charge Collections 856,860.34 144,739.92 82,708.53 90,689.44 1,174,998.22
Recoveries 0.00 0.00 0.00 0.00 0.00
Interest Earned on Accounts 55,220.91 9,296.91 5,330.20 0.00 69,848.03
Total Finance Charge Collections 912,081.25 154,036.83 88,038.73 90,689.44 1,244,846.25
Total Collections** 3,815,557.52 644,488.91 368,297.06 397,991.13 5,226,334.62
** Total Collections are based on 4 days.
(vi) Aggregate Amount of Principal Receivables 744,401,640.28
Invested Amount (End of Month) 420,449,013.16 71,021,792.76 40,583,881.58 44,500,000.00 576,554,687.50
Floating Allocation Percentage 56.4814732% 9.5407894% 5.4518797% 5.9779557% 77.4520979%
Invested Amount (Beginning of Month) 420,449,013.16 71,021,792.76 40,583,881.58 44,500,000.00 576,554,687.50
Average Daily Invested Amount (calculation is based on 4 fiscal days) 576,554,687.50
(vii) Receivable Delinquencies
Current (As a % of Total Receivables) 90.09% 692,615,559.58
30 Days to 59 Days (As a % of Total Receivables) 6.09% 46,826,379.72
60 Days to 89 Days (As a % of Total Receivables) 1.31% 10,033,855.52
90 Days and Over (As a % of Total Receivables) 2.51% 19,305,838.25
Total Receivables 100.00% 768,781,633.07
(viii) Aggregate Investor Default Amount N/A
As a % of Average Daily Invested Amount N/A
(Based on 4 days, Annualized based on 366 days/year)
(ix) Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Class D 0.00
Total Charge-Offs 0.00
(x) Servicing Fee (Based on 27 days) 1,032,786.89
(xi) Pool Factor
Class A 1.0000000
Class B 1.0000000
Class C 1.0000000
(xii) Unreimbursed Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D 0.00
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 123,445,312.50
Average Net Portfolio Yield N/A
Minimum Base Rate N/A
</TABLE>
<TABLE>
Fingerhut Financial Services Receivables, Inc. FFS Master Trust Monthly Report
Certificateholder's Statement Series 1996-1 May-96
Section 5.2 Class A Class B Class C Class D Total
<C> <S> <C> <C> <C> <C> <C>
(i) Certificate Amount 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
(ii) Certificate Principal Distributed 0.00 0.00 0.00 0.00
(iii) Certificate Interest Distributed 2,784,250.00 495,833.33 262,269.04 3,542,352.38
(iv) Principal Collections 31,292,437.82 5,285,884.77 3,020,505.58 2,786,220.44 42,385,048.61
(v) Finance Charge Collections 10,019,894.63 1,692,549.77 967,171.30 892,863.41 13,572,479.11
Recoveries 0.00 0.00 0.00 0.00 0.00
Interest Earned on Accounts 132,951.93 22,458.10 12,833.20 0.00 168,243.23
Total Finance Charge Collections 10,152,846.56 1,715,007.87 980,004.50 892,863.41 13,740,722.34
Total Collections 41,445,284.38 7,000,892.64 4,000,510.08 3,679,083.85 56,125,770.95
(vi) Aggregate Amount of Principal Receivables 932,807,859.99
Invested Amount (End of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Floating Allocation Percentage 55.5312645% 9.3802812% 5.3601607% 4.7705430% 75.0422493%
Invested Amount (Beginning of Month) 420,449,013.16 71,021,792.76 40,583,881.58 44,500,000.00 576,554,687.50
Average Daily Invested Amount 667,863,619.31
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 91.67% 874,141,883.60
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) 5.21% 49,720,787.61
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) 1.15% 11,002,797.22
90 Days and Over (60+ Days Contractually Delinquent) 1.96% 18,729,845.86
Total Receivables 100.00% 953,595,314.29
(viii) Aggregate Investor Default Amount 3,246,896.94
As a % of Average Daily Invested Amount 5.08%
(Based on 35 days, Annualized based on 366 days/year)
(ix) Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Class D 0.00
Total Charge-Offs 0.00
(x) Servicing Fee 1,102,700.20
(xi) Pool Factor
Class A 1.0000000
Class B 1.0000000
Class C 1.0000000
(xii) Unreimbursed Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D 0.00
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 0.00
Average Net Portfolio Yield 16.4308%
Minimum Base Rate 8.4694%
</TABLE>
<TABLE>
Fingerhut Financial Services Receivables, Inc. FFS Master Trust Monthly Report
Certificateholder's Statement Series 1996-1 Jun-96
Section 5.2 Class A Class B Class C Class D Total
<C> <S> <C> <C> <C> <C> <C>
(i) Certificate Amount 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
(ii) Certificate Principal Distributed 0.00 0.00 0.00 0.00
(iii) Certificate Interest Distributed 2,784,250.00 495,833.33 271,076.44 3,551,159.77
(iv) Principal Collections 28,893,194.70 4,880,607.21 2,788,918.41 2,466,413.49 39,029,133.81
(v) Finance Charge Collections 8,403,862.89 1,419,571.43 811,183.68 716,819.21 11,351,437.21
Recoveries 43,768.50 7,393.33 4,224.76 3,760.04 59,146.63
Interest Earned on Accounts 0.00 0.00 0.00 0.00 0.00
Total Finance Charge Collections 8,447,631.39 1,426,964.76 815,408.44 720,579.25 11,410,583.84
Total Collections 37,340,826.09 6,307,571.98 3,604,326.84 3,186,992.74 50,439,717.65
(v) Aggregate Amount of Principal Receivables 1,036,488,246.29
Invested Amount (End of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Floating Allocation Percentage 49.9764471% 8.4419674% 4.8239814% 4.2933434% 67.5357393%
Invested Amount (Beginning of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Average Daily Invested Amount 699,730,615.54
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 89.61% 952,403,680.92
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) 6.74% 71,602,713.89
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) 1.40% 14,882,132.33
90 Days and Over (60+ Days Contractually Delinquent) 2.26% 23,984,869.17
Total Receivables 100.00% 1,062,873,396.31
(viii) Aggregate Investor Default Amount 3,434,691.27
As a % of Average Daily Invested Amount 6.42%
(Based on 28 days, Annualized based on 366 days/year)
(ix) Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Class D 0.00
Total Charge-Offs 0.00
(x) Servicing Fee 1,071,038.25
(xi) Pool Factor
Class A 1.0000000
Class B 1.0000000
Class C 1.0000000
(xii) Unreimbursed Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D 0.00
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 0.00
Average Net Portfolio Yield 14.8995%
Minimum Base Rate 8.4700%
</TABLE>
<TABLE>
Fingerhut Financial Services Receivables, Inc. FFS Master Trust Monthly Report
Certificateholder's Statement Series 1996-1 Jul-96
Section 5.2 Class A Class B Class C Class D Total
<C> <S> <C> <C> <C> <C> <C>
(i) Certificate Amount 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
(ii) Certificate Principal Distributed 0.00 0.00 0.00 0.00
(iii) Certificate Interest Distributed 2,784,250.00 495,833.33 245,977.60 3,526,060.93
(iv) Principal Collections 27,370,917.46 4,623,465.79 2,641,980.45 2,334,775.52 36,971,139.22
(v) Finance Charge Collections 9,052,486.60 1,529,136.25 873,792.14 771,968.67 12,227,383.66
Recoveries 24,116.56 4,073.74 2,327.85 2,071.79 32,589.94
Interest Earned on Accounts 0.00 0.00 0.00 0.00 0.00
Total Finance Charge Collections 9,076,603.15 1,533,209.99 876,120.00 774,040.46 12,259,973.60
Total Collections 36,447,520.62 6,156,675.78 3,518,100.45 3,108,815.98 49,231,112.82
(vi) Aggregate Amount of Principal Receivables 1,104,471,474.26
Invested Amount (End of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Floating Allocation Percentage 46.9002606% 7.9223413% 4.5270522% 4.0290764% 63.3787306%
Invested Amount (Beginning of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Average Daily Invested Amount 699,681,252.09
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 88.07% 998,472,404.21
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) 7.82% 88,649,752.05
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) 1.71% 19,404,250.89
90 Days and Over (60+ Days Contractually Delinquent) 2.40% 27,185,680.14
Total Receivables 100.00% 1,133,712,087.29
(viii) Aggregate Investor Default Amount 3,352,541.23
As a % of Average Daily Invested Amount 6.26%
(Based on 28 days, Annualized based on 366 days/year)
(ix) Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Class D 0.00
Total Charge-Offs 0.00
(x) Servicing Fee 1,071,038.25
(xi) Pool Factor
Class A 1.0000000
Class B 1.0000000
Class C 1.0000000
(xii) Unreimbursed Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D 0.00
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 0.00
Average Net Portfolio Yield 16.6408%
Minimum Base Rate 8.4706%
</TABLE>
<TABLE>
Metris Receivables, Inc. Metris Master Trust Revised 9/20/96 Monthly Report
Certificateholder's Statement Series 1996-1 Aug-96
Section 5.2 Class A Class B Class C Class D Total
<C> <S> <C> <C> <C> <C> <C>
(i) Certificate Amount 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
(ii) Certificate Principal Distributed 0.00 0.00 0.00 0.00
(iii) Certificate Interest Distributed 2,784,250.00 495,833.33 262,100.69 3,542,184.02
(iv) Principal Collections 31,559,528.12 5,331,001.37 3,046,286.50 2,702,251.91 42,639,067.90
(v) Finance Charge Collections 11,641,963.10 1,966,547.81 1,123,741.62 997,046.98 15,729,299.51
Recoveries 43,993.56 7,431.34 4,246.48 3,779.37 59,450.75
Interest Earned on Accounts 0.00 0.00 0.00 0.00 0.00
Total Finance Charge Collections 11,685,956.66 1,973,979.15 1,127,988.10 1,000,826.35 15,788,750.26
Total Collections 43,245,484.78 7,304,980.52 4,174,274.60 3,703,078.26 58,427,818.16
(vi) Aggregate Amount of Principal Receivables 1,187,648,000.56
Invested Amount (End of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Floating Allocation Percentage 43.6156167% 7.3675028% 4.2100016% 3.7469014% 58.9400226%
Invested Amount (Beginning of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Average Daily Invested Amount 699,821,270.80
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 87.58% 1,068,192,153.39
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) 7.71% 93,969,266.69
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) 1.90% 23,160,753.22
90 Days and Over (60+ Days Contractually Delinquent) 2.81% 34,235,858.17
Total Receivables 100.00% 1,219,558,031.47
(viii) Aggregate Investor Default Amount 4,065,369.27
As a % of Average Daily Invested Amount 6.07%
(Based on 35 days, Annualized based on 366 days/year)
(ix) Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Class D 0.00
Total Charge-Offs 0.00
(x) Servicing Fee 1,338,797.81
(xi) Pool Factor
Class A 1.0000000
Class B 1.0000000
Class C 1.0000000
(xii) Unreimbursed Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D 0.00
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 0.00
Average Net Portfolio Yield 17.5178%
Minimum Base Rate 8.4691%
</TABLE>
<TABLE>
Metris Receivables, Inc. Metris Master Trust Revised Delinq. Monthly Report
Certificateholder's Statement Series 1996-1 11/18/1996 Sep-96
Section 5.2 Class A Class B Class C Class D Total
<C> <S> <C> <C> <C> <C> <C>
(i) Certificate Amount 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
(ii) Certificate Principal Distributed 0.00 0.00 0.00 0.00
(iii) Certificate Interest Distributed 2,784,250.00 495,833.33 263,950.79 3,544,034.12
(iv) Principal Collections 22,089,687.85 3,731,366.18 2,132,209.26 1,892,728.66 29,845,991.95
(v) Finance Charge Collections 8,798,387.51 1,486,214.10 849,265.20 753,922.11 11,887,788.92
Recoveries 48,943.14 8,267.42 4,724.24 4,204.57 66,139.37
Interest Earned on Accounts 0.00 0.00 0.00 0.00 0.00
Total Finance Charge Collections 8,847,330.65 1,494,481.52 853,989.44 758,126.68 11,953,928.29
Total Collections 30,937,018.50 5,225,847.70 2,986,198.70 2,650,855.34 41,799,920.24
(vi) Aggregate Amount of Principal Receivables 1,239,533,912.52
Invested Amount (End of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Floating Allocation Percentage 41.7899014% 7.0591050% 4.0337743% 3.5900591% 56.4728397%
Invested Amount (Beginning of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Average Daily Invested Amount 699,908,658.18
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 85.52% 1,091,434,498.51
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) 9.07% 115,694,877.38
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) 2.12% 27,093,153.53
90 Days and Over (60+ Days Contractually Delinquent) 3.29% 42,007,790.76
Total Receivables 100.00% 1,276,230,320.18
(viii) Aggregate Investor Default Amount 3,377,296.39
As a % of Average Daily Invested Amount (Annualized based on 366 days/year) 6.31%
(ix) Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Class D 0.00
Total Charge-Offs 0.00
(x) Servicing Fee 1,071,038.25
(xi) Pool Factor
Class A 1.0000000
Class B 1.0000000
Class C 1.0000000
(xii) Unreimbursed Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D 0.00
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 0.00
Average Net Portfolio Yield 16.0176%
Minimum Base Rate 8.4723%
</TABLE>
<TABLE>
Metris Receivables, Inc. Metris Master Trust Monthly Report
Certificateholder's Statement Series 1996-1 Oct-96
Section 5.2 Class A Class B Class C Class D Total
<C> <S> <C> <C> <C> <C> <C>
(i) Certificate Amount 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
(ii) Certificate Principal Distributed 0.00 0.00 0.00 0.00
(iii) Certificate Interest Distributed 2,784,250.00 495,833.33 251,204.58 3,544,034.12
(iv) Principal Collections 23,880,419.29 4,033,854.59 2,305,059.77 2,043,600.22 32,262,933.87
(v) Finance Charge Collections 10,155,295.85 1,715,421.59 980,240.94 869,440.33 13,720,398.71
Recoveries 54,394.82 9,188.31 5,250.47 4,672.91 73,506.51
Interest Earned on Accounts 0.00 0.00 0.00 0.00 0.00
Total Finance Charge Collections 10,209,690.67 1,724,609.90 985,491.41 874,113.24 13,793,905.22
Total Collections 34,090,109.96 5,758,464.49 3,290,551.18 2,917,713.46 46,056,839.09
(vi) Aggregate Amount of Principal Receivables 1,275,687,629.92
Invested Amount (End of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Floating Allocation Percentage 40.6055517% 6.8590459% 3.9194548% 3.4883148% 54.8723672%
Invested Amount (Beginning of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Average Daily Invested Amount 699,633,370.48
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 83.53% 1,099,796,116.75
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) 10.32% 135,856,400.56
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) 2.35% 30,903,096.02
90 Days and Over (60+ Days Contractually Delinquent) 3.80% 50,008,439.70
Total Receivables 100.00% 1,316,564,053.03
(viii) Aggregate Investor Default Amount 3,945,862.47
As a % of Average Daily Invested Amount
(Annualized based on 366 days/year) 7.37%
(ix) Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Class D 0.00
Total Charge-Offs 0.00
(x) Servicing Fee 1,071,038.25
(xi) Pool Factor
Class A 1.0000000
Class B 1.0000000
Class C 1.0000000
(xii) Unreimbursed Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D 0.00
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 0.00
Average Net Portfolio Yield 18.3993%
Minimum Base Rate 8.4646%
</TABLE>
<TABLE>
Metris Receivables, Inc. Metris Master Trust Monthly Report
Certificateholder's Statement Series 1996-1 Nov-96
Section 5.2 Class A Class B Class C Class D Total
<C> <S> <C> <C> <C> <C> <C>
(i) Certificate Amount 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
(ii) Certificate Principal Distributed 0.00 0.00 0.00 0.00
(iii) Certificate Interest Distributed 2,784,250.00 495,833.33 251,041.67 3,531,125.00
(iv) Principal Collections 29,197,475.59 4,932,006.00 2,818,289.11 2,507,440.89 39,455,211.59
(v) Finance Charge Collections 12,306,811.94 2,078,853.35 1,187,916.20 1,056,907.10 16,630,488.59
Recoveries 58,633.62 9,904.33 5,659.62 5,037.06 79,234.63
Interest Earned on Accounts 0.00 0.00 0.00 0.00 0.00
Total Finance Charge Collections 12,365,445.56 2,088,757.68 1,193,575.82 1,061,944.16 16,709,723.22
Total Collections 41,562,921.15 7,020,763.68 4,011,864.93 3,569,385.05 56,164,934.81
(vi) Aggregate Amount of Principal Receivables 1,363,415,255.77
Invested Amount (End of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Floating Allocation Percentage 37.9928270% 6.4177073% 3.6672613% 3.2638626% 51.3416582%
Invested Amount (Beginning of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Average Daily Invested Amount 699,984,294.50
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 86.10% 1,211,280,232.63
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) 7.58% 106,564,209.28
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) 2.19% 30,801,522.97
90 Days and Over (60+ Days Contractually Delinquent) 4.13% 58,062,149.18
Total Receivables 100.00% 1,406,708,114.06
(viii) Aggregate Investor Default Amount 4,780,916.77
As a % of Average Daily Invested Amount
(Annualized based on 366 days/year) 7.14%
(ix) Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Class D 0.00
Total Charge-Offs 0.00
(x) Servicing Fee 1,338,797.81
(xi) Pool Factor
Class A 1.0000000
Class B 1.0000000
Class C 1.0000000
(xii) Unreimbursed Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D 0.00
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 0.00
Average Net Portfolio Yield 17.8206%
Minimum Base Rate 8.4643%
</TABLE>
<TABLE>
Metris Receivables, Inc. Metris Master Trust Monthly Report
Certificateholder's Statement Series 1996-1 Dec-96
Section 5.2 Class A Class B Class C Class D Total
<C> <S> <C> <C> <C> <C> <C>
(i) Certificate Amount 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
(ii) Certificate Principal Distributed 0.00 0.00 0.00 0.00
(iii) Certificate Interest Distributed 2,784,250.00 495,833.33 279,756.89 3,559,840.22
(iv) Principal Collections 22,543,271.80 3,807,985.11 2,175,991.49 1,935,091.64 30,462,340.04
(v) Finance Charge Collections 9,467,947.26 1,599,315.44 913,894.53 812,741.34 12,793,898.57
Recoveries 32,526.66 5,494.37 3,139.64 2,794.28 43,954.95
Interest Earned on Accounts 0.00 0.00 0.00 0.00 0.00
Total Finance Charge Collections 9,500,473.92 1,604,809.81 917,034.17 815,535.62 12,837,853.52
Total Collections 32,043,745.72 5,412,794.92 3,093,025.66 2,750,627.26 43,300,193.56
(vi) Aggregate Amount of Principal Receivables 1,555,893,772.09
Invested Amount (End of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Floating Allocation Percentage 33.2927613% 5.6237773% 3.2135870% 2.8600924% 44.9902180%
Invested Amount (Beginning of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Average Daily Invested Amount 699,967,351.64
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 85.03% 1,365,011,651.45
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) 8.80% 141,222,897.55
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) 2.06% 33,064,823.10
90 Days and Over (60+ Days Contractually Delinquent) 4.11% 66,038,162.46
Total Receivables 100.00% 1,605,337,534.56
(viii) Aggregate Investor Default Amount 5,269,486.69
As a % of Average Daily Invested Amount (Annualized based on 366 days/year) 9.84%
(ix) Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Class D 0.00
Total Charge-Offs 0.00
(x) Servicing Fee 1,071,038.25
(xi) Pool Factor
Class A 1.0000000
Class B 1.0000000
Class C 1.0000000
(xii) Unreimbursed Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D 0.00
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 0.00
Average Net Portfolio Yield 14.1334%
Minimum Base Rate 8.4849%
</TABLE>
<TABLE>
Metris Receivables, Inc. Metris Master Trust Monthly Report
Certificateholder's Statement Serie Jan-97
Section 5.2 Class A Class B Class C Class D Total
<C> <S> <C> <C> <C> <C> <C>
(i) Certificate Amount 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
(ii) Certificate Principal Distributed 0.00 0.00 0.00 0.00
(iii) Certificate Interest Distributed 2,784,250.00 495,833.33 253,971.25 3,534,054.58
(iv) Principal Collections 23,033,999.09 3,890,878.22 2,223,358.98 1,959,958.88 31,108,195.17
(v) Finance Charge Collections 9,286,836.92 1,568,722.46 896,412.83 789,943.96 12,541,916.17
Recoveries 50,703.40 8,564.76 4,894.15 4,355.79 68,518.10
Interest Earned on Accounts 0.00 0.00 0.00 0.00 0.00
Total Finance Charge Collections 9,337,540.32 1,577,287.22 901,306.98 794,299.75 12,610,434.27
Total Collections 32,371,539.41 5,468,165.44 3,124,665.96 2,754,258.63 43,718,629.44
(vi) Aggregate Amount of Principal Receivables 1,596,585,708.59
Invested Amount (End of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Floating Allocation Percentage 32.4442338% 5.4804449% 3.1316828% 2.7871977% 43.8435592%
Invested Amount (Beginning of Month) 518,000,000.00 87,500,000.00 50,000,000.00 44,500,000.00 700,000,000.00
Average Daily Invested Amount 699,574,184.02
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current 85.48% 1,409,702,385.52
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) 8.00% 131,920,325.61
60 Days to 89 Days (30 to 59 Days Contractually Delinquet) 2.33% 38,381,508.41
90 Days and Over (60+ Days Contractually Delinquent) 4.19% 69,091,231.14
Total Receivables 100.00% 1,649,095,450.68
(viii) Aggregate Investor Default Amount 4,675,058.56
As a % of Average Daily Invested Amount (Annualized based on 365 days/year) 8.71%
(ix) Charge-Offs
Class A 0.00
Class B 0.00
Class C 0.00
Class D 0.00
Total Charge-Offs 0.00
(x) Servicing Fee 1,073,972.60
(xi) Pool Factor
Class A 1.0000000
Class B 1.0000000
Class C 1.0000000
(xii) Unreimbursed Reallocated Principal Collections
Class B 0.00
Class C 0.00
Class D 0.00
(xiii) Excess Funding Account Balance 0.00
Prefunding Account Balance 0.00
Average Net Portfolio Yield 14.7866%
Minimum Base Rate 8.4697%
</TABLE>
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