Seeing an unusual activity on your credit can sometimes cause you to worry, and lead you to make hasty decisions, like canceling your credit card, and making a big fuss. For instance, last month my father was going through his credit card statement, and he saw a Gwctx charge on his credit card statement, he had no idea what it meant.
While researching I noticed that other users have been going through the same issue. If you are one of them, go through this guide as I explain what Gwctx charge means on a credit card statement, why you are seeing it, and what you can do if it is unauthorized.
What is the Gwctx Charge?
Gwctx is either a company called GWC Warranty or Great Western Corporation. Since both companies have similar names, it is important you pay attention to which one you made the purchase from.
GWC Warranty, founded in 1995, is one of the largest and best-in-class providers of used vehicle service contracts in the automotive industry. GWC Warranty provides its dealer partners with services, products, training, and technology to help them succeed. The company offers simple, hassle-free contracts with the slogan “No Worries, Just Drive.”
GWC Warranty is a subsidiary of APCO Holdings, which is majority-owned by the Ontario Teachers’ Pension Plan, Canada’s largest single-profession pension plan with over $133 billion in net assets.
While Great Western Corporation is a managed services company in Texas, they claim to customize end-to-end exterior solutions for commercial customers.
If you are seeing the Gwctx charge on your credit card, it means you did business with any of the companies listed above or someone else used your card which could be a sign of fraud.
Why are you seeing Gwctx Charge on your Credit Card?
As I mentioned above, if you are seeing the Gwxtx credit card charge on your statement, it can be because you did business with any of the companies listed above. If something looks unfamiliar in your statement, take a few minutes to mentally retrace your steps. What’s the date of the transaction, and can you remember what you were doing that day?
You can also contact your family members and people who have your credit card details to check with them whether they have made the purchase.
What to do if the Gwctx Charge is Unauthorized?
If you find the Good Sportsman charge, and upon retracing your steps you find no evidence of any purchase, then there is a chance it is more than a simple mistake, you might be a victim of credit card fraud.
If you suspect you have a fraudulent charge, you can start by calling your bank, or your credit card issuer, you can also call the toll-free number on the back of your credit card. You’ll have to answer some questions regarding your purchase and its details, then, you can start the process of filing a claim.
Try to report the fraudulent charge as soon as possible. The sooner you can do it, the quicker you may be able to stop more unauthorized spending in your name. And the more likely you’ll be to prevent long-term negative consequences like more unauthorized credit card charges.
You should also contact Good Sportsman customer care, so they can help you with the issue as well.
Conclusion
That brings us to the end of the article, now you know why you are seeing the Gwctx charge on your credit card. Credit cards offer many benefits, but it’s important to remember and keep track of the transactions you make from them.
If you track any suspicious activity on your credit card, it is important to call the bank or the Credit Card issuer to stop any future transactions. To avoid such situations, it is important to monitor your spending, set up alerts, and communicate with your credit card issues frequently.
Nyra handles business research, writing financial documents, news items, articles, and study materials about finances.