Rule 424(b)(3)
                                            Registration Statement No. 333-84859
                                            Cusip # 12560PBP5

PRICING SUPPLEMENT NO. 7,

Dated May 18, 2000 to
Prospectus, dated September 23, 1999 and
Prospectus Supplement, dated November 2, 1999.

                               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. $525,000,000.

Proceeds to Corporation: 100% or $525,000,000.

Underwriting Discount: 0%.

Issue Price: Variable Price Reoffer.

Specified Currency: U.S. Dollars.

Original Issue Date: May 24, 2000.

Maturity Date: May 24, 2001.

Interest Rate Basis: Prime Rate.

Spread: -285 basis points.

Initial Interest Rate: The Prime Rate determined one Business Day prior to the
      Original Issue Date minus 285 basis points.

The Notes are  offered  by the  Underwriter,  as  specified  herein,  subject to
receipt  and  acceptance  by it and  subject to its 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 May 24, 2000.

                               MERRILL LYNCH & CO.



Form: Global Note.

Interest Reset Date: Each Business Day to but excluding the Maturity Date.

Rate Cut-Off Date:  Two Business Days prior to each Interest  Payment Date.  The
      interest  rate  for  each  day  following  the  Rate  Cut-Off  Date to but
      excluding  the Interest  Payment Date will be the rate  prevailing  on the
      Rate Cut-Off Date.

Accrual of Interest:  Accrued  interest  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 but
      not including the day for which accrued interest is being calculated.  The
      "Interest  Factor"  for any  Note for each  such day will be  computed  by
      multiplying the face amount of the Note by the interest rate applicable to
      such day and dividing the product thereof by 360.

Interest Payment Dates: Quarterly on August 24, November 24, February 24 and May
      24, commencing August 24, 2000, provided that if any Interest Payment Date
      (other than the Maturity Date) would otherwise fall on a day that is not a
      Business Day, then the Interest  Payment Date will be the first  following
      day that is a Business Day. If the Maturity Date would otherwise fall on a
      day that is not a Business  Day,  then  principal and interest on the Note
      will be paid on the next succeeding  Business Day, and no interest on such
      payment will accrue for the period from and after the Maturity Date.

      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.

Calculation  Date: The earlier of (i) the fifth Business Day after each Interest
      Determination  Date or (ii) the Business  Day  immediately  preceding  the
      applicable Interest Payment Date.

Interest Determination Date: One Business Day prior to each Interest Reset Date.

Minimum Interest Rate: 0.0%.

Calculation Agent: The CIT Group, Inc. (the "Corporation")

Trustee, Registrar, Authenticating and Paying Agent:
      Bank One Trust Company,  N.A. (successor in interest to The First National
      Bank of Chicago),  under  Indenture dated as of September 24, 1998 between
      the Trustee and the Corporation.



                                  UNDERWRITING

Merrill Lynch,  Pierce,  Fenner & Smith  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 May 18, 2000 (the "Terms  Agreement"),  between  the  Corporation  and the
Underwriter,  incorporating  the  terms  of a  Selling  Agency  Agreement  dated
November  2,  1999,  among the  Corporation  and  Lehman  Brothers  Inc.,  Chase
Securities Inc., Credit Suisse First Boston Corporation,  J.P. Morgan Securities
Inc., Merrill Lynch, Pierce,  Fenner & Smith Incorporated,  Morgan Stanley & Co.
Incorporated,  Salomon  Smith  Barney  Inc,  and Warburg  Dillon  Read LLC,  the
Corporation  has  agreed to sell to the  Underwriter,  and the  Underwriter  has
agreed to purchase, $525,000,000 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 offer the Notes
for sale from time to time in one or more transactions  (which may include block
transactions), in negotiated transactions or otherwise, or a combination of such
methods of sale,  at market  prices  prevailing  at the time of sale,  at prices
related  to  such  prevailing  market  prices  or  at  negotiated   prices.  The
Underwriter  may effect  such  transactions  by selling  the Notes to or through
dealers,  and such dealers may receive  compensation in the form of underwriting
discounts, concessions or commissions from the Underwriter and/or the purchasers
of the Notes for whom they may act as agent.  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.