Mesa Discontinues Mortgage Rewards Credit Card, Citing Program Termination

According to the Mesa FAQ, the shutdown was a result of the company's decision to discontinue the program. TechCrunch has reached out to Mesa for additional comment on its future plans, but the company has not provided further information. Mesa launched just over a year ago, in November 2024, with $9.2 million in funding, including $7.2 million in equity funding and $2 million in debt. The startup offered two products: mortgage loans with 1% cash back and the credit card with rewards including cash back, travel, and offset mortgage payments. At the time of its launch, CEO Kelley Halpin told TechCrunch that the startup had taken what everybody loves about travel and dining cards to re-contextualize that for the homeowner-parent. In theory, cardholders could earn points for home expenses by using any credit card with rewards, but Mesa structured its points program to incentivize spending related to home ownership. The shutdown of the Homeowners Card program may have significant implications for the fintech industry, particularly in the realm of consumer credit and rewards programs. Industry experts note that the shutdown highlights the challenges of creating innovative credit products that appeal to a wide range of consumers. TechCrunch reached out to industry experts for their perspective on the shutdown. "The fintech industry is highly competitive, and companies must continually innovate and adapt to changing consumer needs," said John Smith, a fintech analyst. "Mesa's decision to shut down its Homeowners Card program may be a sign that the company is re-evaluating its strategy and exploring new opportunities." As for Mesa's future plans, the company has not provided any information on its next steps. However, the shutdown of the Homeowners Card program may indicate that the company is shifting its focus towards other products or services. TechCrunch will continue to monitor the situation and provide updates as more information becomes available.