Mesa Cancels Mortgage Rewards Credit Card

Fintech Startup Mesa Shuts Down Homeowners Card Program

In a surprising move, fintech startup Mesa has officially closed its Homeowners Card program, which previously rewarded cardholders for making mortgage payments.

The Mesa website recently displayed a message announcing the closure of all Mesa Homeowners Card accounts as of December 12. The statement mentioned that all credit cards associated with the program have been deactivated, preventing cardholders from making any new purchases or earning Mesa Points.

According to a Mesa FAQ regarding the shutdown, the decision to terminate the Mesa Homeowners Card Program was described as a strategic business move. TechCrunch has attempted to reach out to Mesa for further insights into their future plans.

Having launched just over a year ago in November 2024, Mesa initially secured $9.2 million in funding, comprising $7.2 million in equity funding and $2 million in debt. The startup offered two primary products: mortgage loans with 1% cash back and a credit card that provided rewards such as cash back, travel perks, and the ability to offset mortgage payments.

CEO Kelley Halpin previously explained that Mesa aimed to revolutionize the credit card industry by tailoring its rewards program specifically for homeowners and parents. Unlike traditional travel and dining cards, Mesa incentivized spending on home-related expenses like gas, groceries, HOA fees, utilities, and mortgage payments.

Following Mesa’s closure, Bilt, another fintech company, announced plans to expand its rewards card program to include points for mortgage payments in its upcoming revamped card set to launch next year.

News of Mesa’s card shutdown has garnered attention from travel deals websites like One Mile at a Time and Upgraded Points. Reports indicate that Mesa cardholders have experienced declined transactions over the past week, with the company initially attributing this to a temporary issue.

Currently, the only known method to redeem points accrued through the Mesa card is by converting them into a statement credit at a rate of 0.6%.