Mesa, a fintech startup focused on homeownership rewards, has shut down its Homeowners Card program.
According to a message on its website, Mesa closed all Homeowners Card accounts as of Dec. 12, stating: “All credit cards have been deactivated and you are no longer able to make any new purchases or earn Mesa Points.”
A frequently asked questions section on Mesa’s website described the move as “a business decision to close the Mesa Homeowners Card Program entirely.”
TechCrunch reported that it reached out to Mesa for further comment on its future plans.
Mesa launched in November 2022 with $9.2 million in total funding, including $7.2 million in equity and $2 million in debt. Its offerings included mortgage loans with 1% cash back and a credit card that rewarded spending on categories such as gas, groceries, utilities, and mortgage payments.
CEO Kelley Halpin previously told TechCrunch the company aimed to reframe traditional rewards cards for homeowners and parents, stating the card was structured to incentivize spending on home-related expenses.
Cardholders had reported declined transactions in the past week, according to travel deal sites including One Mile at a Time and Upgraded Points. Mesa initially indicated the issue was temporary.
With the program now terminated, users can only redeem existing Mesa Points as a statement credit at a redemption rate of 0.6%.
Bilt, another rewards card company, has said it plans to add mortgage payment rewards when it revamps its card offering in 2025.
