Mesa Shuts Down Mortgage Rewards Credit Card Program

According to a Mesa FAQ, the shutdown was a business decision to close the Mesa Homeowners Card Program entirely. TechCrunch has reached out to Mesa for additional comment on its future plans, but the company has not provided further information. The Mesa Homeowners Card was 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 card offered rewards such as cash back, travel, and offset mortgage payments, in addition to mortgage loans with 1% cash back. 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 company's goal was to provide a more targeted rewards program for homeowners, but it appears that this approach was not successful. The shutdown of the Mesa Homeowners Card Program may have implications for the fintech industry, particularly in the area of rewards-based credit cards. While some companies have found success with rewards programs that incentivize spending in specific categories, others have struggled to compete with established players. TechCrunch has reached out to industry experts for comment on the shutdown, but no additional information has been provided. It is unclear what the future holds for Mesa, but the company's decision to shut down its Homeowners Card Program suggests that it may be re-evaluating its business strategy. As of now, cardholders are no longer able to use their Mesa Homeowners Cards, and the company's website is no longer accepting new applications. It is unclear what will happen to existing cardholders or whether Mesa will continue to operate in some capacity.