Credit Card News
Mesa Reveals Details on Homeowner Credit Card
After teasing a groundbreaking credit card product in September, Mesa has revealed more details about its Homeowners Card.
About the Mesa Homeowners Card:
Today, Mesa announced new details about what it calls the first premium credit card designed for homeowners. With the Mesa Homeowners Card, cardholders can earn Mesa Points on mortgage payments and other purchases. Plus, the company says there are no annual membership fees for the card.
Starting with rewards, cardholders can earn 1 Mesa Point per $1 spent on monthly mortgage payments, when users link through the Mesa app. Plus, customers can earn 3x points on home improvement, 3x points on utilities, and more. In addition to the home-related categories, the Mesa Homeowners Card will offer rewards on everyday purchases. This includes earning 2x on groceries, 2x on gas, and 2x on EV charging.
As for what members can do with their Mesa Points, the company says that they’ll be redeemable for statement credits, gift cards, travel experiences, and mortgage payments. However, a specific value of these points wasn’t confirmed in their press release.
Outside of rewards, Mesa states that it’s lined up strategic partnerships that will offer cardholders up to $800 in value. These will include credit for home improvements, big box memberships with the likes of Sam’s Club, Thumbtack home maintenance credits, and Wag pet care credits.
Currently, those interested in the Mesa Homeowners Card can join the waitlist on the Mesa site or app.
What they’re saying:
Discussing the idea behind the Mesa Homeowners Card, the company’s Head of Commercial Tina Moore explained, “Premium credit cards have traditionally catered to urban travelers with benefits centered around travel and dining, like TSA PreCheck and lounge access. But there is a major gap for programs designed for the homeowner, whose spending habits and lifestyles have changed.”
Moore added, “Homeowners are investing in their homes, managing weekly grocery shopping, and caring for their pets and kids, so we’ve reimagined premium benefits tailored to this lifestyle. By offering benefits such as big-box memberships and home improvement credits, we bring differentiated value to our members while helping our brand partners reach homeowners — some of the most valuable consumers.”
My thoughts:
After hearing about Mesa’s homeowner credit card when they raised their last round, I had a few big questions — and, while this release answered some of them, it definitely didn’t cover everything. For example, the wording of “monthly mortgage payments linked through the Mesa app” doesn’t quite explain if all mortgages are eligible or just those that originated on Mesa. For comparison, Bilt makes it clear that their service works with all landlords. And speaking of Bilt, their clever system allows users to pay rent using their card but not incur any fees while doing so. Meanwhile, Mesa doesn’t mention whether that will be the case for their product.
I’m also a bit confused as to how the card can apparently offer $800 in credits and benefits but have no annual fee. Well, actually, they state “annual membership fee” — which may prove to be some clever wording. Basically, I feel as though there needs to be a catch and I’m not sure what it is just yet.
As it stands, I’m still very interested in the Mesa Homeowners Card and am currently on the waitlist. I just hope to get a bit more clarity on these issues before it’s my time to apply.
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