-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 NCQdEvEv/epzd34jmdFilV1CcnekcgP5OG1GgdFqb7ABtBsTrIcBySPU6dWeumal
 YX6f0Hkfyp/NSsNmuP0nLg==

<SEC-DOCUMENT>0001053032-04-000003.txt : 20040217
<SEC-HEADER>0001053032-04-000003.hdr.sgml : 20040216
<ACCEPTANCE-DATETIME>20040217181750
ACCESSION NUMBER:		0001053032-04-000003
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031231
FILED AS OF DATE:		20040217

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			METRIS COMPANIES INC
		CENTRAL INDEX KEY:			0001021061
		STANDARD INDUSTRIAL CLASSIFICATION:	PERSONAL CREDIT INSTITUTIONS [6141]
		IRS NUMBER:				411849591
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		10900 WAYZATA BLVD
		CITY:			MINNETONKA
		STATE:			MN
		ZIP:			55305
		BUSINESS PHONE:		6125255020

	MAIL ADDRESS:	
		STREET 1:		10900 WAYZATA BLVD
		CITY:			MINNETONKA
		STATE:			MN
		ZIP:			55305

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LEE THOMAS H EQUITY FUND IV LP
		CENTRAL INDEX KEY:			0001053032
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12351
		FILM NUMBER:		04610981

	BUSINESS ADDRESS:	
		STREET 1:		75 STATE ST
		STREET 2:		C/O THOMAS H LEE PARTNERS LP
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		6172271050

	MAIL ADDRESS:	
		STREET 1:		THOMAS H LEE COMPANY
		STREET 2:		75 STATE STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2003-12-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0001021061</issuerCik>
        <issuerName>METRIS COMPANIES INC</issuerName>
        <issuerTradingSymbol>MXT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001053032</rptOwnerCik>
            <rptOwnerName>LEE THOMAS H EQUITY FUND IV LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>THOMAS H. LEE PARTNERS, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>75 STATE STREET</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02109</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Series C Perpetual Convertible Preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>37.25</value>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2003-12-31</value>
                <footnoteId id="F1"/>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>91103.8</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>372.5</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>1999-06-01</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F5"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>38141967.3</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1069837.2</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Shares of Series C Perpetual Convertible Preferred Stock receive pay in kind dividends accruing at a rate of 9% per annum and paid out quarterly, subject to increase in certain circumstances. Dividends of additional shares of Series C Perpetual Convertible Preferred Stock in calendar year 2003 were paid on 3/31/03, 6/30/03, 9/30/03 and 12/31/03. Also the number of shares of Common Stock into which the Series C Perpetual Convertible Preferred Stock is convertible would give effect to a percentage of cumulative dividends through December 9, 2005 if converted in certain circumstances.</footnote>
        <footnote id="F2">The share amounts listed are the amounts of Common Stock that would be received upon voluntary conversion of the Derivative Securities listed in column 9 at any time on or before December 9, 2005.</footnote>
        <footnote id="F3">The Conversion Price listed is the original Series C Perpetual Convertible Preferred Stock Conversion Price, and does not reflect any subsequent anti-dilution adjustments.</footnote>
        <footnote id="F4">The initial purchase price of Series C Perpetual Convertible Preferred Stock.</footnote>
        <footnote id="F5">Not applicable.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Thomas H. Lee</signatureName>
        <signatureDate>2004-02-17</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----