Mesa Shutters Mortgage-Rewarding Credit Card

Mesa Shuts Down Homeowners Card Program

Fintech company Mesa has ceased operations of its Homeowners Card, a program designed to reward users for mortgage payments. The card previously provided points for each mortgage payment made by cardholders.

Account Closure and Card Deactivation

According to a notice posted on the Mesa website, all Mesa Homeowners Card accounts were officially closed on December 12th. Consequently, all associated credit cards have been deactivated, preventing further purchases and the accrual of Mesa Points.

The company’s FAQ section clarifies that this decision was a strategic one, leading to the complete closure of the Mesa Homeowners Card Program. TechCrunch has contacted Mesa to request further details regarding their future business direction.

Company Background and Funding

Mesa was founded just over a year prior, in November 2024, and initially secured $9.2 million in funding. This comprised $7.2 million in equity and an additional $2 million in debt financing.

The startup offered a dual product line: mortgage loans featuring 1% cash back, and the Homeowners Card, which provided rewards such as cash back, travel benefits, and the option to offset mortgage payments.

The Core Concept Behind the Card

CEO Kelley Halpin previously explained to TechCrunch that Mesa aimed to adapt the popular rewards structures of travel and dining cards to the homeowner demographic.

While earning rewards on home-related expenses was possible with existing credit cards, Mesa’s program was specifically designed to encourage spending directly linked to homeownership.

Halpin stated the program focused on rewarding purchases like gas, groceries, HOA fees, utilities, and home goods, in addition to mortgage payments, rather than typical travel or dining expenditures.

Future Developments in the Space

Bilt, a company offering a rewards card for rent payments, has announced plans to incorporate mortgage payment points into its revamped card, scheduled for release next year.

Recent Issues and Point Redemption

Reports from travel deal websites, including One Mile at a Time and Upgraded Points, indicate that Mesa Card members experienced declined transactions over the past week. Initially, the company attributed these issues to a temporary system outage.

Currently, the only available method for redeeming accumulated Mesa Points is through statement credits, valued at a rate of 0.6%.

This development signifies the end of Mesa’s foray into incentivizing mortgage payments through a dedicated rewards card.