Exhibit 10.i

                    METRIS COMPANIES INC.
                              
           NONEMPLOYEE DIRECTOR STOCK OPTION PLAN


     1.   Purpose of Plan.  This plan shall be known as the
"Metris Companies Inc. Nonemployee Director Stock Option
Plan" and is hereinafter referred to as the "Plan."  The
purpose of the Plan is to promote the interests of Metris
Companies Inc., a Delaware corporation (the "Company"), by
enhancing its ability to attract and retain the services of
experienced and knowledgeable outside directors and by
providing an additional means for such directors to identify
with the interests of the Company's shareholders.

     2.   Administration.

     (a)  The Plan shall be administered by the Board of
Directors of the Company (the "Board of Directors").  All
questions of interpretation of the Plan or of any options
issued under it shall be determined by the Board of
Directors and such determination shall be final and binding
upon all persons having an interest in the Plan.  Any or all
powers and discretion vested in the Board of Directors under
this Plan may be exercised by any person or committee duly
authorized by the Board of Directors except that the Board
of Directors shall approve and authorize each grant, award
or other similar acquisition from the Company pursuant to or
in connection with the Plan.

     (b)  The Board of Directors shall have plenary
authority in its discretion, but subject to the express
provisions of the Plan:  (i) to determine the purchase price
of the Common Stock (as hereinafter defined) covered by each
option, (ii) to determine the directors to whom and the time
or times at which such options shall be granted and the
number of shares to be subject to each, (iii) to determine
the terms of exercise of each option, (iv) to amend or
modify the terms of any option with the consent of the
optionee, (v) to amend or interpret the Plan, (vi) to
prescribe, amend and rescind rules and regulations relating
to the Plan, (vii) to determine the terms and provisions of
each option agreement under the Plan (which agreements need
not be identical), and (viii) to make all other
determinations necessary or advisable for the administration
of the Plan.  The Board of Directors also shall have such
additional authority and powers as set forth in Section 17
hereof, including the authority to amend and terminate the
Plan.  The Board of Directors' determinations on the
foregoing matters shall be final and conclusive.

     3.   Participation in the Plan.  Each director of the
Company shall be eligible to participate in the Plan unless
such director is an officer or employee of the Company, any
subsidiary of the Company, or any entity that  owns at least
20% of the outstanding common stock of the Company.  A
director who has been granted an option under this Plan may
be granted additional options under the Plan.

     4.   Stock Subject to the Plan.  Subject to the
provisions of Section 14 hereof, the stock to be subject to
options under the Plan shall be authorized but unissued
shares of the Company's common stock, par value $.01 per
share (the "Common Stock") or treasury shares of Common
Stock.  Subject to the adjustment as provided in Section 14
hereof, the maximum number of shares on which options may be
exercised under this Plan shall be 20,000 shares.  If an
option under the Plan expires, or for any reason is
terminated and unexercised with respect to any shares, such
shares shall be available for options thereafter granted
during the term of the Plan.

     5.   Nonqualified Stock Options.  All options granted
under the Plan shall be nonqualified stock options that do
not qualify as incentive stock options within the meaning of
Section 422 of the Internal Revenue Code of 1986, as amended
(the "Code").

     6.   Terms and Conditions of Options.  Each option
granted under this Plan shall be evidenced by a written
agreement in such form as the Board of Directors shall from
time to time approve, which agreements shall comply with and
be subject to the terms and conditions of the Plan.
     
     7.   Term of Options. Each option and all rights and
obligations thereunder shall expire on the date determined
by the Board of Directors as specified in the option
agreement.  The Board of Directors shall be under no duty to
provide terms of like duration for options granted under the
Plan, but the term of options granted under the Plan may not
extend more than fifteen (15) years from the date of
granting of such option.
     
     8.   Exercise of Options.
     
     (a)  The Board of Directors shall have full and
complete authority to determine whether an option will be
exercisable in full at any time or from time to time during
the term thereof, or to provide for the exercise thereof in
such installments, upon the occurrence of such events (such
as termination of employment for any reason) and at such
times during the term of the option as the Board of
Directors may determine and specify in the option agreement.
     
     (b)  The exercise of any option granted hereunder shall
only be effective at such time as counsel to the Company
shall have determined that the issuance and delivery of
Common Stock pursuant to such exercise will not violate any
state or federal securities or other laws.  An optionee
desiring to exercise an option may be required by the
Company, as a condition of the effectiveness of any exercise
of an option granted hereunder, to agree in writing that all
Common Stock to be acquired pursuant to such exercise shall
be held for his or her own account without a view to any
further distribution thereof, that the certificates for such
shares shall bear an appropriate legend to that effect and
that such shares will not be transferred or disposed of
except in compliance with applicable federal and state
securities laws.
     
     (c)  An optionee electing to exercise an option shall
give written notice to the Company of such election and of
the number of shares subject to such exercise.  The full
purchase price of such shares shall be tendered with such
notice of exercise.  Payment shall be made to the Company by
delivery of (A) cash (including check, bank draft or money
order), (B) shares of Common Stock already owned by the
optionee having a fair market value as of the date of
exercise equal to the full exercise price of the shares to
be acquired, (C) written authorization for the Company to
retain from the total number of shares of Common Stock as to
which the option is exercised that number of shares having a
fair market value as of the date of exercise equal to the
aggregate exercise price of the options exercised, (D) any
combination of the foregoing methods of payment, or (E) such
other form of consideration as the Board of Directors may
deem acceptable.  For purposes of the preceding sentence,
the fair market value of Common Stock tendered shall be
determined as provided in Section 11 as of the date of
exercise.
               
9.   Effect of Termination of Directorship or Death or
Disability.

     (a)  In the event that an optionee shall cease to be a
director of the Company for any reason other than such
person's gross and willful misconduct or such person's death
or disability, (as may be determined in the sole discretion
of the Board of Directors) such optionee shall have the
right to exercise the option at any time within seven months
after such termination of directorship to the extent of the
full number of shares he or she was entitled to purchase
under the option on the date of termination, subject to the
condition that no option shall be exercisable after the
expiration of the term of the option.

     (b)  In the event that an optionee shall cease to be a
director of the Company by reason of the optionee's gross
and willful misconduct during the course of his or her
service as a director of the Company, including but not
limited to wrongful appropriation of funds of the Company,
or the commission of a gross misdemeanor or felony, the
option shall be terminated as of the date of the misconduct
and the optionee shall have no further rights thereunder.

     (c)  If the optionee shall die while serving as a
director of the Company or within seven months after
termination of his or her directorship for any reason other
than the optionee's gross and willful misconduct or the
optionee shall become disabled (as may be determined in the
sole discretion of the Board of Directors) while serving as
a director of the Company and such optionee shall not have
fully exercised the option, such option may be exercised at
any time within 12 months after the date of such death or
the onset of such disability by the optionee or the
optionee's legal representative, in the case of disability,
or by the personal representative(s), administrator(s), or
heir(s) of the optionee, in the case of death, to the extent
of the full number of shares the optionee was entitled to
purchase under the option on the date of death, disability,
or termination of directorship, if earlier, and subject to
the condition that no option shall be exercisable after the
expiration of the term of the option.
          
     10.  Option Exercise Price.  The option price for all
Options granted under the Plan shall be determined by the
Board of Directors but shall not be less than 100% of the
fair market value per share of Common Stock as of the date
of grant of such option.
     
     11.  Fair Market Value of Common Stock.  For purposes
of this Plan, the fair market value of the Common Stock as
of a given date shall be the closing price of the Common
Stock as reported on the Nasdaq National Market on the
trading date immediately preceding such date.  If the Common
Stock is not publicly traded on such date, the Board of
Directors shall make a good faith attempt to determine such
fair market value and, in connection therewith, shall take
such actions and consider such factors as it deems necessary
or advisable.

     12.  Transfer Restrictions.  No option granted under
the Plan or interest therein may be transferred, assigned,
pledged or hypothecated by the optionee during such
optionee's lifetime, whether by operation of law or
otherwise, or be made subject to execution, attachment or
similar process, except that options shall be transferable
by the optionee:  (a) by will or by the laws of descent and
distribution as provided in Section 9(c) hereof; (b) to any
child, stepchild, grandchild, parent, step-parent,
grandparent, spouse, sibling, mother-in-law, father-in-law,
son-in-law, daughter-in-law, brother-in-law or sister-in-law
of the optionee, including adoptive relationships
("immediate family members"); (c) to charitable
organizations; or (d) to trusts for the benefit of immediate
family members of the optionee or charitable organizations.
Except as provided in Section 9 hereof with respect to
disability of the optionee, and except for options that have
been transferred in accordance with the provisions of this
Section 12, during the lifetime of the optionee an option
granted under this Plan shall be exercisable only by the
optionee.

     13.  Limitation of Rights

     (a)  No Right to Continue as a Director.  Neither the
Plan, nor the granting of an option nor any other action
taken pursuant to the Plan, shall constitute, or be evidence
of, any agreement or understanding, express or implied, that
the Company will retain a director for any period of time,
or at any particular rate of compensation.
     
     (b)  No Shareholder Rights for Options.  An optionee
shall have no rights as a shareholder with respect to the
shares covered by options until the date of the issuance to
such optionee of a stock certificate therefor, and no
adjustment will be made for dividends or other rights for
which the record date is prior to the date such certificate
is issued.
          
     14.  Adjustments to Common Stock.  If there shall be
any change in Common Stock through merger, consolidation,
reorganization, recapitalization, stock dividend (of
whatever amount), stock split or other changes in the
corporate structure, appropriate adjustments to the Plan and
outstanding options shall be made.  In the event of any such
changes, adjustments shall include, where appropriate,
changes in the aggregate number of shares subject to the
Plan, the number of shares subject to outstanding options
and the option exercise prices thereof in order to prevent
dilution or enlargement of option rights.

     15.  Effective Date of the Plan.  The Plan shall take
effect immediately upon its approval by the affirmative vote
of the majority of the directors of the Company at a duly
held meeting of the Board of Directors.

     16.  Time for Granting Options.  Unless the Plan shall
have been terminated as provided in Section 17 hereof, the
Plan shall terminate upon the expiration of 10 years from
the date upon which it takes effect as provided in Section
15 hereof.  No option may be granted after such termination,
but termination of the Plan shall not, without the consent
of the optionee, alter or impair any rights or obligations
under any option theretofore granted.

     17.  Amendment of the Plan.  The Board of Directors may
amend the Plan in any respect whatsoever; provided however,
that the Board of Directors shall not amend the Plan in a
manner that adversely affects any rights of any holder of
any option heretofore granted under the Plan without the
consent of the holder of the option.  Notwithstanding the
foregoing, only the Board of Directors has the authority to
amend the Plan to increase the number of shares subject
thereto or to terminate the Plan.

     18.  Governing Law.  The Plan and all determinations
made and actions taken pursuant hereto shall be governed by
the law of the State of Minnesota and construed accordingly.