Mortgage Rewards Credit Cards Are Disappearing

Credit cards that reward homeowners for using their plastic to make mortgage payments have been slow to materialize and quick to fade from the market. 

In the last four months, two issuers of credit cards with mortgage-related benefits pulled their offerings, showcasing the difficulty providers face delivering profitably on a product category that’s synonymous with the American Dream.

On December 12, the Austin, Texas-based Mesa pulled its Mesa Homeowners Visa® Signature Preferred Credit Card, a card issued by Celtic Bank. According to unconfirmed online reports, the mortgage fintech pulled the offering without any notice, leaving customers reeling.

“Dang [sic] they just cooked us all… I was thinking about redeeming the points this week too lol,” according to one Reddit user. Though, savvy points collectors weren’t altogether surprised. “It’s unfortunate, because I have gotten a ton of value from the Mesa card, but was wondering how they were going to sustain it,” wrote another Reddit user. 

The Mesa card’s benefits were robust. The card offered customers 1X points on mortgage payments and over $800 in annual credits — all with no annual fee. With the Mesa card, homeowners would verify their mortgage payment with Mesa and receive 1X points on the payment amount after making $1,000 or more in other charges with their card in a given billing cycle. Mesa points could be transferred to travel partners or redeemed for statement credits, gift cards and mortgage payments. This was all on top of a long list of credits for Costco, Lowe’s, The Farmer’s Dog, Wag! and more. 

The news comes on the heels of another major issuer pulling up stakes in the category. On Sept. 8, Rocket Mortgage, a company owned by Rocket Companies based in Detroit, sunset its Rocket Visa Signature Card, a company spokesperson confirmed. The Rocket Visa wasn’t a card designed to reward you for mortgage payments, but it did offer cash rewards that were most valuable when redeemed toward closing costs or a down payment on a Rocket Mortgage. 

The company continues to supply a range of financial products, offering home equity loans, government-backed loans, conventional mortgages, personal loans and more. Mesa representatives didn’t respond to CNBC Select’s request for comment in time for publishing.

Rewarding consumers for mortgage payments is complicated because there are transaction fees associated with paying a mortgage with a credit card, and someone has to pay that bill.  “Some of this was too generous,” said Ted Rossman, senior industry analyst, credit cards at Bankrate. “It’s almost like the offer was too good to be true and therefore didn’t last.” 

With less established startups, there can be risk for consumers, he added. “I would be really shocked if Chase [points] became worthless, but I wouldn’t be shocked if a less well-known fintech goes under.”

Rocket announced the end of its co-branded card in July, which was months in advance of the September closure. The company also offered a complimentary year of Rocket Money Premium, which offers tools for budgeting, subscription cancellation, credit score monitoring and more. Mesa’s shutdown was messier and had no advance warning. What’s more, Mesa’s customers’ remaining points will automatically be redeemed at a rate of 0.6 cents per point for statement credits. Previously, cardholders could redeem points at higher values for travel or mortgage credits. 

Explanations behind the closings haven’t always been clear: Mesa did not provide a reason in the announcement on its website, dated Dec. 12. In a FAQ on its website, the company said: “Mesa has made a business decision to close the Mesa Homeowners Card Program entirely. This is a program-wide decision and is not a reflection of your individual credit status or payment history.” Rocket, in its Q2 earnings announcement on July 31, 2025, said it was strategically pivoting to refocus on its primary business: mortgages and real estate. 

In the absence of Mesa and Rocket, consumers have few viable options for earning rewards on mortgage payments. However, Bilt, a loyalty program and New York City-based fintech company, plans to add the ability to earn points on eligible mortgage payments and expand its card offerings through Bilt 2.0, which is launching in February 2026. The details are sparse. All we know at this point is that Bilt’s new cards will have annual fees of $0, $95 and $495. Bilt did not respond to CNBC Select’s request for comment. 

Current Bilt cardholders will be able to choose which card they transition to without a hard pull on their credit. While many details — including how cardholders might earn rewards and apply them — remain unknown, Bilt Rewards is a top-tier program and features 23 travel partners (more than any other credit card travel rewards program). 

If you’re a Mesa cardholder affected by the shutdown, the most important information to know is that you’re still required to pay your Mesa card balance. You don’t have to pay it in full right now, but you’ll at least need to continue making minimum monthly payments. 

You’ll also need to adjust automatic payment settings to ensure you don’t miss payments to daycare providers, utility companies, streaming services or other recurring bills that you paid with the card. 

As far as your Mesa points balance goes, you no longer have options to transfer points or redeem for higher values, which customers were able to do before the shutdown. 

What’s more, your options to seek legal recourse are likely limited or nonexistent, despite the fact that credit cards are subject to various consumer protection laws. “Given what I know about these credit card rewards programs, it’s probably in their terms and conditions that they can do stuff like this,” Rossman said, adding they can often make at-will changes based on business needs. 

Still, cardholders could file a complaint with the Consumer Financial Protection Bureau, a government agency tasked with enforcing consumer financial laws. State regulators where you live or in the state where the bank or fintech is located, depending on who has jurisdiction, might also help.

Were you a Mesa or Rocket Visa customer affected by these changes and want to share your story? If so, contact us at Kelsey.Neubauer@versantmedia.com.

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