Mesa Homeowners Card Review (2025): Now with Aeroplan & SAS Transfers!
The Only Card That Earns Points on Your Mortgage? A Deep Dive into the Mesa Card (2025 Update)
For years, travel hackers have earned points on almost every purchase imaginable—coffee, flights, groceries—but the single biggest bill for most of us has always been a rewards black hole: the mortgage. It’s a massive monthly expense that earns you nothing back.
Until now.
Enter the Mesa Homeowners Card, a unique credit card with no annual fee that promises to let you earn valuable rewards on that massive mortgage payment. But is it a game-changer or just a gimmick?
In this deep dive, we'll break down exactly how it works, analyze its extensive list of benefits, and cover a massive new update from June 2025 that makes this card more compelling than ever.
Full Disclosure: If you decide the Mesa card is right for you, you can support the channel by using my referral link. If you apply and are approved, you’ll receive a welcome bonus of 5,000 points. Apply Here and use this code: 83t9p2
How Does It Work? Earning Points on Your Mortgage
Mesa is a tech platform that offers both a mortgage marketplace and this unique credit card. The card's headline feature is the ability to earn up to 100,000 points per year from your mortgage payments.
The best part? You don’t have to use Mesa to pay your mortgage. The mechanism is simple:
Let Mesa know your mortgage payment amount during the application process.
Connect the bank account you use for your mortgage to the secure Mesa app.
Mesa simply verifies your payment has been made each month and deposits the points into your account.
So, what’s the catch? To unlock the mortgage points for a given month, you must spend $1,000 on the Mesa card in other purchase categories.
Mesa's Bonus Categories
Beyond the mortgage, the card offers some very interesting and potentially lucrative bonus categories:
3X Points on Home Improvement, Home Decor, Maintenance, Utilities, and Daycare. (The daycare category is huge for families, as this expense can be as large as a mortgage payment itself).
2X Points on Groceries, Gas, and EV charging.
1X Points on everything else.
A Closer Look at the Mesa Card's Annual Credits
For a no-annual-fee card, Mesa comes packed with a "coupon book" of credits. But not all credits are created equal. Let’s look closer:
$200 Thumbtack Credit: Thumbtack is a fantastic app for hiring professionals for any job imaginable. However, this credit is reimbursed at a rate of just $25 per job. This is more of a small rebate on services you were already planning to use, not a way to get a free service.
$120 Wag! & $120 The Farmer’s Dog Credits: Similar to the Thumbtack credit, these are broken down into $10 monthly credits. They’re only beneficial if you’re an existing customer of these services.
$120 Lowe’s Credit: This credit is much better. It’s broken down into $30 per quarter, which is very easy to use at Lowe's. Pro Tip: You can buy third-party gift cards at Lowe's, including Amazon, effectively making this a free $120 towards your Amazon shopping each year.
$100 Armadillo Home Warranty Credit: This is a one-time credit. Based on user reports, it can be quite valuable. One Reddit user noted it covered a $1,500 AC repair, requiring only a $100 deductible. This could be worthwhile if you have older appliances.
$100 Cozy Earth Gift Card: This is a one-time promo code that, unfortunately, doesn’t stack with other coupons. Given the high price point of Cozy Earth products, don’t expect to get much without paying something out of pocket.
$65 Big Box Membership Credit: This credit toward a Costco, Sam’s Club, or BJ’s membership is excellent, as it offsets a common annual expense for many families.
How to Redeem Mesa Points (And Why Transfer Partners Are Key)
You can redeem your points in the Mesa app for statement credits, gift cards, or travel. However, the value is quite low for direct redemptions:
Statement Credits: ~0.6 cents per point
Gift Cards: ~0.8 cents per point
The real secret weapon of the Mesa card is its ability to transfer points to airline and hotel partners.
1:1 Ratio: Aeromexico, Air India, Finnair, Hainan Airways, Thai Airways, Vietnam Airlines
3:2 Ratio: Cathay Pacific, Accor Hotels
Of these, Finnair is a standout because its currency is Avios, which can be transferred to British Airways, Iberia, and Qatar Airways, unlocking incredible value. Accor Hotels is also a strong option, as the 3:2 ratio can yield a value of ~1.5 Euro cents per Mesa point.
HUGE UPDATE (June 2025): Aeroplan and SAS Are Now Partners!
This is where the Mesa card goes from interesting to essential. As of June 2025, Mesa has added two game-changing transfer partners, both at a 1:1 ratio:
Air Canada Aeroplan: This is one of the most valuable and flexible airline programs in the world. With its massive list of airline partners and a fantastic award chart that includes free stopovers on one-way tickets, Aeroplan is a program I find myself transferring points to constantly.
Scandinavian Airlines (SAS) EuroBonus: This is huge news. As of June 2025, the Mesa card is the only transferable currency that transfers into SAS. This provides a unique and exclusive way to access SAS awards.
Mesa vs. The Market: What About Bilt?
Many in the points and miles world know that Bilt Rewards dominates the rent rewards space and has hinted at a mortgage product. For now, Mesa is the first and only card to actually reward mortgage payments directly. It gives them a huge first-mover advantage. It remains to be seen if and when Bilt will enter this space, and if the two programs could potentially be "stacked" in the future.
The Final Breakdown: Pros and Cons
Pros:
No annual fee.
The only way to earn points directly on mortgage payments.
Lucrative 3x categories, especially for families with daycare expenses.
An impressive list of annual credits for a no-fee card.
Valuable transfer partners, with Finnair (for Avios), Aeroplan, SAS, and Accor being standout choices.
No foreign transaction fees.
Cons:
Poor redemption value outside of transfer partners (0.6 cpp for cash back).
It's a personal card and will count towards your Chase 5/24 status.
The list of transfer partners is still somewhat limited compared to major players.
No travel or purchase protections.
The $1,000 monthly spend requirement to unlock mortgage points.
Is the Mesa Card Worth It? My Personal Strategy
I’m personally excited about this card. The key is to decide if the opportunity cost of putting $1,000 in monthly spending on this card is worth it.
My plan is to meet the $1,000 spend requirement in 2x categories like gas. This means I'll earn 2,000 points on my spending plus ~2,100 points on my mortgage payment each month. Getting back 4,100 points for $1,000 in spend is a great return, especially when you factor in the annual credits. The higher your mortgage, the better the return.
The Player 2 Question: One thing I’m curious about is if a couple ("Player 1" and "Player 2") could each get a card and earn points on the same mortgage from the same linked bank account. If anyone has experience with this, please let me know in the comments!
Conclusion
The Mesa Homeowners Card is one of the most interesting new products I've seen in a while. It’s not perfect, but its innovative approach to mortgage rewards and the game-changing additions of Aeroplan and SAS as transfer partners make it a compelling choice for the right person.
If you’re a homeowner looking for a new way to earn valuable points on your biggest expense, this card absolutely deserves your consideration.