Credit Card News
Mesa Abruptly Shuts Down Homeowners Credit Card
With little to no notice, the Mesa Homeowners Card is no more.
About the Mesa Homeowners Card Shutdown:
On December 12th, Mesa emailed Homeowners cardholders to inform them that their accounts were being closed. In turn, it advised that customers stop using their cards, update any recurring payments, and review their final card balance. Soon after, the Mesa site was updated with a message reading, “Effective as of December 12th, 2025, all Mesa Homeowners Card accounts are closed. All credit cards have been deactivated and you are no longer able to make any new purchases or earn Mesa Points.”
News of this closure comes less than two weeks after Mesa announced a new partnership with Omni Hotels that allowed customers to not only transfer Mesa Points to Omni but also claim status. Prior to that, Mesa had also formed partnerships with Instacart, Costco, Lowe’s, and a number of travel brands.
The Mesa Howeowners card debuted late last year, with those on the waitlist continuing to receive application invitations through early 2025. In August of this year, the company announced a $24 million seed round.
As for the card itself, it allowed customers to earn points on mortgage payments. Specifically, cardholders could earn 1 Mesa Point per dollar spent on mortgage payments after spending at least $1,000 on the card per month. Notably, mortgage payments were not made using the card and were instead placed directly with servicers. Elsewhere, the card offered 3x points on home-related purchases as well as a variety of credits, including up to $65 per year for a Costco membership, up to $30 per quarter on Lowe’s purchases, up to $10 per month on Wag purchases, and more.
Mesa’s closure also comes ahead of Bilt 2.0’s launch, which will see the Bilt Mastercard expanding into mortgage payments. The new Bilt program is expected to launch this February.
My Thoughts:
This was an absolutely shocking email to receive on a Friday night. In fact, I initially wondered if I had made some sort of mistake (even though the email did state that my card’s closure was not due to something I did). However, once I saw the message on the site, I realized the gravity of the situation.
Considering how Mesa just announced the Omni partnership, I’m very curious how things managed to go south so quickly. While many have pointed to the generous credits and multipliers as the reason why this card was always doomed to fail, I assumed that the credits — all of which were branded by the time the card shut down — were being subsidized. Moreover, I figured the $1,000 per month spending requirement was enough to offset the expense of giving customers points for their mortgage. I guess I was wrong on both accounts.
The big question now is what impact this will have on Bilt 2.0. Did Mesa just prove that mortgage payment points are unsustainable? Will Bilt adjust its plans (which have still not been completely made public) in response to this news? We’ll see.
Meanwhile, Made just launched its Essential Card for homeowners, which features points for mortgage purchases. That will be another one to keep an eye on following Mesa’s demise.
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