Fintech startup Mesa has shut down its Homeowners Card, ending a rewards program that allowed cardholders to earn points for paying their mortgages and other home-related expenses.
A message posted on the Mesa website states that as of December 12, all Mesa Homeowners Card accounts have been closed. The notice adds that all cards have been deactivated and that customers are no longer able to make new purchases or earn Mesa Points.
Company Confirms Program Closure
In a frequently asked questions page addressing the shutdown, Mesa described the move as a business decision to close the Mesa Homeowners Card program entirely. TechCrunch said it has reached out to the company for further comment about Mesa’s future plans but has not yet received a response.
Mesa’s Products and Early Positioning
Mesa launched just over a year ago, in November 2024, after raising $9.2 million in funding, including $7.2 million in equity and $2 million in debt. The startup offered two main products: mortgage loans that provided 1% cash back and a credit card that offered rewards such as cash back, travel benefits, and the ability to offset mortgage payments.
At the time of the launch, Mesa chief executive officer Kelley Halpin told TechCrunch that the company aimed to adapt popular credit card reward models for homeowners and parents rather than focusing on traditional categories.
Rewards Focused on Homeownership Spending
While many credit cards allow users to earn rewards on general spending, Mesa said its points system was designed to encourage spending tied specifically to homeownership. Halpin said the card rewarded spending on categories such as gas, groceries, homeowners association fees, utilities, and home goods, in addition to mortgage payments, instead of travel and dining.
Comparison to Other Rewards Cards
Mesa’s approach placed it in a small but growing category of payment cards tied to housing expenses. Bilt, which operates a rewards card that lets customers earn points on rent payments, has said it plans to add rewards for mortgage payments when it launches a redesigned card next year.
Customer Complaints and Point Redemptions
Coverage from travel deal sites including One Mile at a Time and Upgraded Points indicates that Mesa cardholders had been reporting declined transactions for about a week before the shutdown. According to those reports, the company initially told customers the issues were caused by a temporary outage.
Following the closure, the reports say the only remaining option for cardholders to redeem previously earned Mesa Points is through a statement credit, at a redemption rate of 0.6%.
Featured image credits: Flickr
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