No Annual Charge Mesa Owners Card: Too Good To Be True?

Hyperlink: Apply now for the Mesa Owners Card

We not too long ago noticed the introduction of the Mesa Owners Card. Okay, that’s not precisely the sexiest card title, and the cardboard’s lack of apparent affiliation with a significant financial institution would possibly make some individuals skeptical. Nevertheless, the cardboard presents some actually good advantages, all with no annual charge.

I’m making an attempt to resolve whether or not to use for this myself, so let me cowl all the small print, as a result of (dare I say) this virtually sounds too good to be true. Because of Frequent Miler for flagging this.

Fundamentals of the Mesa Owners Card

The Mesa Owners Card is a Visa Signature product issued by Celtic. It has no annual charge, offers you factors for paying your mortgage (with out even utilizing the cardboard!), and even presents some credit that may make it easier to come out forward.

On the floor, I’m virtually suspicious of this idea, as a result of I don’t perceive how precisely Mesa is meant to earn cash. Then once more, I largely had the identical skepticism when Bilt first launched, but Bilt remains to be chugging alongside, and not less than has a really excessive valuation. Consider Mesa as being to mortgages as Bilt is to paying hire (regardless that we all know that Bilt additionally plans to get into the mortgage area).

Mesa Owners Card factors for mortgage funds

The Mesa Owners Card presents presents 1x factors in your mortgage funds, as much as a most of 100,000 factors per 12 months. You don’t even have to make use of your Mesa Owners Card to pay your mortgage, however as a substitute, you simply must make $1,000 in qualifying purchases on the account per billing cycle to unlock that.

The way in which it really works is that you just join your checking account from which your mortgage is debited to the Mesa app, after which Mesa will provide you with factors for that quantity. It’s my understanding that there’s usually little verification and validation in relation to this. Sure, you’re actually getting factors with out utilizing the cardboard for these purchases, although you do need to make $1,000 in purchases per billing cycle.

Mesa Owners Card 1-3x factors rewards construction

Past the flexibility to earn factors merely for paying your mortgage, the Mesa Owners Card has the next rewards construction, all with no international transaction charges:

• 3x factors on residence & household bills, together with residence decor, residence enchancment, normal contractors, cable and streaming providers, residence insurance coverage, property taxes, upkeep, telecommunications, utilities, and daycare
• 2x factors on groceries, gasoline, and EV charging
• 1x factors on different eligible purchases

These 3x factors classes appear tremendous profitable to me. For instance, 3x factors on normal contractors, property taxes, and daycare, all appear to be distinctive bonus classes that you just gained’t discover on different playing cards.

Anecdotally, I’ve heard that paying earnings taxes and HOA charges with the cardboard additionally triggers the 3x factors, however I can’t assure that can proceed to be the case, and don’t have any firsthand expertise.

Mesa Owners Card welcome bonus of 5,000 factors

Right here’s the unhealthy information — the Mesa Owners Card doesn’t have a considerable sign-up bonus. There’s no publicly accessible bonus, although should you sign-up by a refer a buddy hyperlink, each the individual referring and individual being referred can get 5,000 factors. You’ll be able to discover my refer a buddy hyperlink right here, and others are free to go away their hyperlinks within the feedback part.

Within the curiosity of transparency, let me point out that there was briefly a welcome bonus of fifty,000 factors on the cardboard, however it was pulled in a short time, which suggests to me that the corporate doesn’t have plans to supply a beneficiant public bonus, as a regular. In fact some individuals should still select to attend for one, which is truthful.

Mesa Owners Card factors redemption choices

Mesa factors could be redeemed in a wide range of methods. You’ll be able to redeem them towards present playing cards on the price of 0.8 cents per level, or towards assertion credit on the price of 0.6 cents per level. That’s not terribly thrilling, although thankfully it’s additionally doable to switch factors to journey companions.

Mesa factors could be transfered to the next journey companions (all at a 1:1 ratio, besides Accor, which is at a 1.5:1 ratio):

• Accor Stay Limitless
• Air Canada Aeroplan
• Air India Maharaja Membership
• Finnair Plus
• Hainan Airways Fortune Wings Membership
• SAS EuroBonus
• Thai Airways Royal Orchid Plus
• Vietnam Airways LotusMiles

Mesa Owners Card credit & advantages

Regardless of being a no annual charge product, the Mesa Owners Card presents a stunning variety of credit and advantages, which in and of themselves might make it worthwhile to accumulate the cardboard. Listed here are a number of the credit provided, with enrollment usually being required, and a few presents solely being legitimate the primary 12 months:

• A complimentary huge field membership credit score of as much as $65, towards a membership for Costco, Sam’s Membership, and BJ’s
• As much as $200 per 12 months in residence upkeep credit with Thumbtack, within the type of a $25 credit score per job
• As much as $120 per 12 months in Lowe’s assertion credit, within the type of a $30 quarterly assertion credit score
• As much as $120 per 12 months in credit for The Farmer’s Canine, within the type of a $10 month-to-month credit score
• As much as $120 per 12 months in Wag! credit, within the type of a $10 month-to-month credit score
• As much as $100 in Cozy Earth present playing cards, for residence necessities & bedding
• As much as $100 in residence guarantee credit with Armadillo, towards a house guarantee deductible

Is the Mesa Owners Card price it?

A no annual charge card that offers you factors for paying your mortgage, presents credit, and even has some superior bonus classes? Sounds fairly nice, no? Right here’s my take, as a result of I’ll admit, I used to be a bit skeptical at first.

In equity, the cardboard doesn’t have a really huge welcome provide, so I suppose many individuals would contemplate there to be a possibility price to this software, in comparison with the bigger welcome bonus they might get on one other card. In concept, playing cards aren’t mutually unique, however I do know some individuals attempt to maintain their whole variety of inquiries down.

With that out of the way in which, this card actually looks as if a no brainer for a lot of, should you don’t thoughts choosing up one other card:

• If you happen to pay a considerable mortgage, then incomes factors for that’s incredible, and value benefiting from
• Sure, you need to spend $1,000 per billing cycle, however I believe that might be definitely worth the effort, particularly with the bonus classes, and might be accomplished with minimal (or no) alternative price
• Talking of the bonus classes, there are some actually profitable printed ones, like 3x factors on property tax funds, which in and of themselves could also be a very good motive to choose up this card
• The switch companions aren’t essentially the most thrilling on earth, and I don’t suppose there have been any switch bonuses but, however nonetheless, given the earnings charges, that’s not an enormous subject
• The credit appear to be the icing on the cake, particularly the membership membership charge assertion credit score

I’ve gotta say, I’m critically contemplating making use of for this card, however am curious to listen to how OMAAT readers really feel, and if anybody has firsthand expertise.

I assume my one hesitation is that with these new ideas that I don’t know a lot about, I at all times marvel how sustainable the enterprise mannequin is, and the way lengthy it’s till severe adjustments are made. Then once more, I had that very same skepticism with Bilt, and it appears to have labored out fairly effectively for them, so…

Backside line

The no annual charge Mesa Owners Card is an fascinating product that’s price a glance, if nothing else. The cardboard presents factors for paying your mortgage (with out even placing the mortgage price on the cardboard), so long as you spend not less than $1,000 on the cardboard per billing cycle.

Even past that, the cardboard presents distinctive bonus classes, like 3x factors on every thing starting from property tax funds to daycare. The icing on the cake is that the cardboard even presents credit, regardless of not having an annual charge. It positive feels to me like this card borders on being too good to be true, so I’m mighty tempted to use.

What do you make of the Mesa Owners Card?