Fintech startup Mesa has made the decision to close its Homeowners Card program, which previously rewarded cardholders for their mortgage payments. As of December 12, all Mesa Homeowners Card accounts have been closed, with credit cards deactivated and no further purchases or Mesa Points earning allowed.
Mesa’s official website announced the closure of the Homeowners Card program on December 12, stating that all accounts have been shut down. This decision marks the end of the program, preventing cardholders from making new purchases or earning Mesa Points.
According to a Mesa FAQ regarding the shutdown, the closure of the Homeowners Card Program was a strategic business decision. Mesa has not provided further details on their future plans, but TechCrunch has reached out to the company for additional comments.
Founded just over a year ago in November 2024, Mesa initially received $9.2 million in funding, with offerings including mortgage loans with 1% cash back and a credit card that provided rewards such as cash back, travel benefits, and mortgage payment offsets.
CEO Kelley Halpin previously mentioned that Mesa aimed to redefine traditional travel and dining cards to cater specifically to homeowners and parents. The program was structured to incentivize spending related to homeownership, with rewards for expenses like gas, groceries, utilities, and mortgage payments.
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In response to Mesa’s card shutdown, Bilt, a company offering rewards for rent payments, has announced plans to expand its program to include points for mortgage payments with the launch of a revamped card in the coming year.
Travel deals websites like One Mile at a Time and Upgraded Points have covered Mesa’s card shutdown, reporting that cardmembers have experienced declined transactions in recent weeks. Initially deemed a temporary issue by Mesa, the only remaining option for redeeming earned points is through a statement credit at a rate of 0.6%.
