The old concept of the effective stiffness of a 90-layer with intralaminar cracks is revisited performing 3-D FEM parametric analysis of symmetric and balanced laminates. It is shown, focusing on the effective transverse modulus, that the expected dependence of this property on composite elastic properties and laminate lay-up is very weak and follows very simple rules. Calculations show that the effective longitudinal modulus and Poisson’s ratio of the layer are not affected at all by intralaminar cracking. Simple fitting curve for effective transverse modulus change with normalized crack density is obtained from analysis of GF/EP cross-ply laminate. It is shown, comparing with FEM results and experimental data, that this expression can be used as a ‘master curve’ in laminate theory to predict macroscopic elastic property change with crack density in laminates with very different lay-ups and made of different unidirectional composites.