There’s a new no-fee credit card called Mesa which earns points when you have a mortgage. There’s also free wholesale club membership, Lowe’s $30 quarterly credit and more.
Direct Link To Mesa credit card
Contents
Signup Bonus
- They released a signup bonus today of 50,000 points if you spend $5,000 within 90 days. Use promo code BONUS50 during signup.
You can also click through a friend’s referral link or a blog affiliate to get them credit for the signup as well.
Card Details
You don’t actually pay your mortgage with the card, just send in the mortgage details and get 1x per dollar of the mortgage. I assume any taxes which are rolled into your mortgage earn 1x per dollar as well. There is a limit of 100,000 miles per year which can be earned from mortgage payments.
The big catch is that you have to spend $1,000 each month in order to get the mortgage points credit.
Card Benefits
- $200 annual Thumbtack (home maintenance and cleaning)
- $120 annual Wag! (pet care)
- $120 annual The Farmer’s Dog (pet food)
- $120 annual Lowe’s Credit ($30 per quarter)
- $100 Armadillo Home Warranty
- $65 toward $65 Big Box Membership (warehouse clubs)
Card Earning Rates
- 3x on home decor, home improvement, general contractors, cable & streaming services, home insurance, property taxes, maintenance, telecom, utilities and daycare
- 2x on Groceries, Gas, and EV charging
- 1x Everywhere else
- 1x on mortgage payments when you spend $1,000 each month on the card
Points Redemption
- Points can be spent at up to 1.3 cent apiece through their travel portal
- .8 cents each towards gift cards
- .6 cents each as credit card statement credits.
- They also offer redemptions for closing costs on mortgages obtained though their marketplace.
Here is the transfer partner list and their transfer rates:
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Accor 1.5:1
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Air India 1:1
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Finnair 1:1
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Hainan Airlines 1:1
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Thai Airways 1:1
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Vietnam Airlines 1:1
Our Verdict
Assuming these benefits stay long term, it’s an interesting card for the points earning from mortgage, free $65 wholesale club membership, the quarterly Lowe’s credits, and the other credits. The added 50,000 points signup bonus is a nice addition.
Obviously the big trade-off is the $1,000 monthly spend. I’d have to run some numbers, but it could definitely make sense, especially for someone with a large mortgage.
I suppose it might also make sense to get the card for the signup bonus and keep it for the annual credits as a no-fee card.
Hat tip to VFTW
Android -> Waitlist button
iOS -> Apply button
Doesn’t instill a lot of confidence and makes it seem like a janky operation, but I applied anyway. I expect any future devaluations to come with no notice.
This is an interesting card. Though with a smaller mortgage around $1.5k, the math doesn’t add up. I’d get 1x mortgage points but sacrifice $12k a year in spend, which I could net much more value from on SUBs. Worse yet, I have to spread it out and hit at least $1k per month.
If I take the minimum redemption at 0.6¢ on my 18,000 points from mortgage, that’s $108. But I could get around $2k value from that spend on SUBs.
What really got my attention is the value of the card without even using the mortgage component. 50,000 point sign-up, around $600 in credits, 3x back on some less common spend categories. And no annual fee. The first year value on this card, at a minimum, is $900, and if the credits remain it could be a keeper for no AF.
Applied and approved instantly with 20k limit- signup bonus and,warehouse club credit lowes credit is good and for a no fee card benefits are good.Also saw a $100 cozy earth gift card offer as well.
So your earnings are purely based on the number you enter on the application for your mortgage payment?
So they allow you to pay your mortgage with the card ?
terms seems does not mention the promo code. As long as you applied between the timeframe, you should be able to get the bonus. Isn’t it? Where did you get the “ BONUS50” promo?
Any idea if you can use multiple mortgages (primary + investment)?
Found the answer – No.
Oddly, the amount of mortgage credit you get each month is based on what you put in the application… “The mortgage amount you entered in your card application determines your eligible rewards—there’s no need to pay your mortgage with the card. Simply continue making payments as usual, and we’ll use the value from your application to calculate your points.”
I have a reasonably large mortgage. 1k of 1x spend a month would give me over 3% cash back as a baseline. That’s pretty good, except I don’t have 1k/month expenses left over once I get rid of my mortgage. Double dipping with Bilt should they ever let you pay your mortgage to earn points would be fun.
” Earn 1X Mesa Points per $1 on the principal amount of your loan when you secure a new mortgage or refinance with Mesa Mortgage ” !!!!!
First pay a lots more on interest for the mortgage loan or refinance you get from us then good luck using those points on the second product we push you into and finally dream about your financial achievments and success when you wake up from your American dream !
Yeah, is it just for people who have a Mesa mortgage?
If so, only available to people in Michigan, Florida, Alabama, Texas and Oregon.
No, I was approved in California
Good to know!