metris credit card services

Metris Companies Inc. was a significant American financial services holding company founded in 1995 as a spin-off from Fingerhut Companies. The company, through its subsidiary Metris National Bank, specialized in issuing MasterCard and Visa credit cards to the non-prime (subprime) consumer credit market. At its peak, it was one of the largest direct-mail marketers of credit cards in the United States. Following significant financial and regulatory challenges, including an accounting scandal in the early 2000s, Metris was acquired by HSBC North America Holdings Inc. for approximately $1.6 billion in 2005, and its operations were integrated into HSBC's card services business.