"Fintech startup Mesa has shut down its Homeowners Card, which awarded points to cardholders for paying their mortgages. A message on the Mesa website states that as of December 12, "all Mesa Homeowners Card accounts are closed," adding, "All credit cards have been deactivated and you are no longer able to make any new purchases or earn Mesa Points." A Mesa FAQ about the shutdown described this as "a business decision to close the Mesa Homeowners Card Program entirely.""
"The startup launched just over a year ago, in November 2024, with $9.2 million in funding ($7.2 million in equity funding and $2 million in debt). It offered two products - mortgage loans with 1% cash back, as well as the credit card with rewards including cash back, travel, and offset mortgage payments. At the time, 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.""
Fintech startup Mesa shut down its Homeowners Card and closed all accounts on December 12, deactivating cards and stopping new purchases and point accrual. Mesa described the shutdown as a business decision to close the program entirely. The startup launched in November 2024 with $9.2 million in funding and offered mortgage loans with 1% cash back plus a rewards credit card that could offset mortgage payments. Mesa positioned rewards to incentivize homeownership-related spending such as gas, groceries, HOA, utilities, home goods and mortgage payments. Cardmembers reported declined transactions prior to the shutdown. Bilt plans to expand mortgage payment rewards next year.
Read at TechCrunch
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