Rule 424(b)(3)
                                           Registration Statement No. 333-27465
                                           Cusip #12560Q BT5

PRICING SUPPLEMENT NO. 7,

Dated November 5, 1998, to 
Prospectus,  dated  September 24, 1998 and 
Prospectus Supplement dated September 25, 1998.

                               THE CIT GROUP, INC.
                         MEDIUM-TERM FLOATING RATE NOTES
                   DUE NINE MONTHS OR MORE FROM DATE OF ISSUE


(X) Senior Note                     (   ) Senior Subordinated Note

Principal Amount:  U.S. $100,000,000.

Proceeds to Corporation:  99.904% or $99,904,000.

Agent's Fee:  0.096%.

Issue Price:  100% or $100,000,000.

Original Issue Date:  November 10, 1998.

Maturity Date:  November 13, 2000,  provided  that if such day is not a Business
    Day,  the  payment  of  principal  and  interest  may be  made  on the  next
    succeeding Business Day, and no interest on such payment will accrue for the
    period from and after the Maturity Date.

Interest Rate Basis:  LIBOR.

Index Maturity:  Three months.

Spread:  33 basis points (.33%).

Interest Rate Calculation:  LIBOR determined on the Interest Determination Date 
        plus the Spread.

Initial Interest Rate:    LIBOR determined two London Business Days prior to 
        the Original Issue Date plus the Spread.

Specified Currency:  U.S. Dollars.

The Notes are  offered by the  Underwriters,  as  specified  herein,  subject to
receipt and acceptance by them and subject to their right to reject any order in
whole or in part.  It is expected  that the Notes will be ready for  delivery in
book-entry form on or about November 10, 1998.

                           MORGAN STANLEY DEAN WITTER





Form:  Global Note.

Interest Reset Dates:  Quarterly on February 13, May 13,  August 13 and November
    13,  commencing  February 13, 1999,  provided  that if any such day is not a
    Business Day, the Interest Reset Date will be the next  succeeding  Business
    Day,  except that if such  Business Day is in the next  succeeding  calendar
    month, such Interest Reset Date will be the immediately  preceding  Business
    Day.

Interest Payment Dates: Quarterly on February 13, May 13, August 13 and November
    13,  commencing  February 13, 1999,  provided  that if any such day is not a
    Business Day, the Interest Payment Date will be the next succeeding Business
    Day,  except that if such  Business Day is in the next  succeeding  calendar
    month, such Interest Payment Date will be the immediately preceding Business
    Day.

Accrual of Interest:  Accrued  interest from the Original Issue Date or from the
    last date to which  interest has been paid or duly provided for with respect
    to any Note will be calculated by  multiplying  the face amount of such Note
    by an accrued Interest Factor. This accrued Interest Factor will be computed
    by adding the  Interest  Factors  calculated  for each day from the Original
    Issue  Date or from the last  date to which  interest  has been paid or duly
    provided for up to the day for which accrued  interest is being  calculated.
    The  "Interest  Factor"  for any Note for each such day will be  computed by
    dividing the interest rate applicable to such day by 360.

    Interest  payments  will  include  the amount of interest  accrued  from and
    including the most recent  Interest  Payment Date to which interest has been
    paid (or from and  including  the Original  Issue Date) to but excluding the
    applicable Interest Payment Date.

Interest Determination Dates:  Two London Business Days prior to each Interest 
    Reset Date.

Calculation Date: The earlier of (a) the Business Day immediately  preceding the
    applicable  Interest Payment Date or the date on which the Note will mature,
    or (b) the tenth calendar day after an Interest Determination Date, provided
    such day is a Business  Day, or, if such day is not a Business Day, the next
    succeeding Business Day.

Maximum Interest Rate:  Not applicable.

Minimum Interest Rate:  0.00%.

Other Provisions:

        "LIBOR"  means the rate for  deposits in U.S.  dollars  having the Index
        Maturity  specified  above  which  appears  on the  Telerate  Page  3750
        (defined  below)  as of  11:00  a.m.,  London  time,  on the  applicable
        Interest Determination Date.

        "Telerate  Page 3750" means the display page  designated as page 3750 on
        the Dow Jones  Telerate  Service (or such other page as may replace page
        3750 on that  service for the  purpose of  displaying  London  interbank
        offered rates).

        "London Business Day" means any day on which deposits in U.S. dollars 
        are transacted in the London interbank market.

Trustee, Registrar, Authenticating and Paying Agent:
        The Bank of New York,  under  Indenture  dated as of September 24, 1998,
        between the Trustee and the Corporation.


                                  UNDERWRITING

        Morgan Stanley & Co. Incorporated (the "Underwriter") is acting as 
        principal in this transaction.

        Subject  to the  terms  and  conditions  set  forth in a Term  Sheet and
        Agreement  dated November 5, 1998 (the "Terms  Agreement"),  between the
        Corporation and the  Underwriter,  incorporating  the terms of a Selling
        Agency Agreement dated May 15, 1996,  between the Corporation and Lehman
        Brothers,  Lehman Brothers Inc., Credit Suisse First Boston Corporation,
        Goldman, Sachs & Co., Merrill Lynch & Co., Merrill Lynch, Pierce, Fenner
        & Smith Incorporated,  Morgan Stanley & Co. Incorporated,  Salomon Smith
        Barney Inc. (formerly known as Salomon Brothers Inc), and Warburg Dillon
        Read LLC (formerly  known as UBS Securities  LLC), the  Corporation  has
        agreed to sell to the  Underwriter,  and the  Underwriter  has agreed to
        purchase, $100,000,000 aggregate principal amount of the Notes.

        Under the terms and conditions of the Terms  Agreement,  the Underwriter
        is committed to take and pay for all of the Notes, if any are taken.

        The  Underwriter  has  advised  the  Corporation  that  it  proposes  to
        initially  offer  the Notes to the  public at the Issue  Price set forth
        above. After the initial public offering,  the public offering price and
        other terms may be changed  from time to time.  In  connection  with the
        sale of the  Notes,  the  Underwriter  may be  deemed  to have  received
        compensation from the Corporation in the form of underwriting discounts,
        and the Underwriter may also receive  commissions from the purchasers of
        the Notes for whom it may act as agent.  The Underwriter and any dealers
        that  participate  with the Underwriter in the distribution of the Notes
        may be deemed  to be  underwriters,  and any  discounts  or  commissions
        received  by them and any  profit on the resale of the Notes by them may
        be deemed to be underwriting discounts or commissions.

        The Notes  are a new issue of  securities  with no  established  trading
        market. The Corporation  currently has no intention to list the Notes on
        any  securities  exchange.  The  Corporation  has  been  advised  by the
        Underwriter  that it  intends  to make a market  in the Notes but is not
        obligated  to do so and may  discontinue  any market  making at any time
        without  notice.  No assurance  can be given as to the  liquidity of the
        trading market for the Notes.

        The Corporation has agreed to indemnify the Underwriter  against certain
        liabilities,  including liabilities under the Securities Act of 1933, as
        amended.