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
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