Mesa Launches Credit Card Letting Homeowners Earn Points on Mortgage Payments

Mesa, a startup based in Austin, Texas, is on a mission to solve the home-cost crisis. Homeowners are spending more than ever to own and maintain a home, and no payment system has successfully rewarded homeowners. Mesa’s card looks to change this.

After a successful fundraising round, Mesa is launching the Mesa Homeowners Card and aims to reward 83 million homeowners for expenses related to running a home.

Here’s what you need to know about the Mesa card, how homeowners can maximize this card, and my take on the card as a homeowner.

Mesa Card Benefits and Features

Tina Moore, Head of Commercial at Mesa, talked with me twice to cover the card’s story, benefits, and features. 

She said the Mesa platform is the “first homeowner membership platform” of its kind. When you take out a new mortgage or refinance through a lender or broker on the Mesa platform, you will earn 1 point per $1 spent on the loan amount. And the points don’t stop there, as Mesa’s credit card lets you earn heaps of points throughout the homeownership journey.

Those earnings can really add up when you consider the hidden costs of home ownership now average $18,000 per year.

Mesa Card Rewards Structure

Here’s the full list of how you can earn rewards:

• 3x per $1 spent on home-related charges (i.e., HOA fees, contractors, homeowner’s insurance, home decor, property taxes, etc.)
• 2x per $1 spent at gas stations, groceries, EV charging, and utilities
• 1x per $1 spent on a linked mortgage, up to 100,000 points per year

The Mesa card is unique because you’re credited with points for a mortgage you already pay. For example, when I get this card, I will link my current mortgage to the card (which is $2,850 per month) and earn an easy 2,850 points monthly for a bill I already pay anyway.

These points can be redeemed in several ways, including gift cards, the Mesa travel booking portal, transfer partners, and even closing costs on a new home.

The Mesa team couldn’t disclose its future transfer partners during our conversation. However, Moore is a former leader at American Express that led the way for the Membership Rewards program, so I suspect there will be some solid value for cardholders.

Mesa Card’s Key Features

Moore highlighted how credit cards focused on travel often have overlapping benefits like TSA PreCheck waivers and lounge access. This is a pain point for many points and miles collectors, and Mesa is differentiating itself with benefits not typically seen from credit card issuers.

“There are no programs designed for the homeowner, whose spending habits and lifestyles have changed,” Moore continued. “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.”

Here are the additional benefits of the Mesa card:

• Complimentary big box retailer memberships, such as Sam’s Club
• Home maintenance credits with Thumbtack
• Pet care credits with Wag!
• Visa Signature benefits

The card has no annual fee, making it a fantastic value for current or soon-to-be homeowners.

Evaluating the Mesa Card a Credit Card Nerd and Homeowner

When the Bilt World Elite Mastercard^® came out a few years ago, I definitely felt a bit jealous about what it offered for renters. Unfortunately, you can’t pay a debt (mortgage) with another debt (credit card) — not directly, any way.

As soon as I got wind of the Mesa card and had a conversation with Moore, I was hooked. I definitely get Mesa’s vision of this card as the “first premium card for homeowners.”

I wish I’d had a card like this when my air conditioner recently went out. A $7,500 bill would have netted me 22,500 Mesa points. Additionally, I regularly incur expenses on rental properties, which I can now put on the Mesa card. However, I won’t be able to link those mortgages, as the card only earns points on 1 linked mortgage per account.

This card will likely become a semi-passive way for me to earn rewards on my homeownership costs, but I will continue to keep my Chase Sapphire Preferred^® Card as my solo everyday card.

Mesa’s new card is a no-brainer for any current or prospective homeowner, especially as the card’s benefits and features continue to improve. However, the points value of Mesa’s program is yet to be determined, so we will wait and see how competive the rewards can be against Bilt Points and other high-value loyalty programs.

Additionally, it’s yet to be seen if new loyalty programs can become profitable. The Wall Street Journal reports that Bilt Rewards has become a losing endeavor for Wells Fargo. I think Mesa could have a shot if it could direct enough people to either buy or refinance a home on the Mesa platform. If you consider that an average home loan is $420,000, and if a lender makes anywhere from 1% to 2% of the loan amount in fees, Mesa could easily make millions here.

Moreover, roughly half of Americans carry a credit card balance, unfortunately, meaning that they are paying interest and fees to their card issuers. With these 2 significant revenue streams, Mesa could potentially offset the cost of its loyalty program.

Final Thoughts

Homeownership can be a great investment over time, but it comes with a mountain of expenses along the way. If you’ve already made the plunge into being a homeowner, or you’re looking for a resource to make the transition from renting to owning a bit easier, the Mesa card could be a solid pick for your wallet.