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Stock impact report

Mortgage rewards credit cards are disappearing. Here's what to do next [CNBC]

Rocket Companies, Inc. Class A (RKT) 
Company Research Source: CNBC
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 Show less Read more
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