The 15-3 rule is a trending credit card repayment method that suggests making two payments on your credit card bill each month. This strategy is designed to potentially influence your credit score, though its effectiveness is debated.
How the 15-3 Rule Works
This method involves splitting your monthly credit card payment into two separate transactions based on your due date:
- First Payment: Make one payment approximately 15 days before your credit card bill's payment due date.
- Second Payment: Make a second payment approximately 3 days before your payment due date.
The idea behind this approach is to manage your credit utilization and payment history more actively throughout the billing cycle.
The Claimed Benefits and Reality
Proponents of the 15-3 rule suggest that by making two payments, especially the first one well before the due date, you can keep your reported credit utilization ratio lower. A lower credit utilization ratio (the amount of credit you're using compared to your total available credit) is generally seen as positive by credit scoring models and could theoretically lead to a faster increase in credit scores. Additionally, consistently making payments, even if split, demonstrates responsible credit behavior.
However, there is no real proof that the 15-3 rule accelerates credit score improvement more significantly than other diligent payment strategies. Building a strong credit history and raising credit scores is a process that fundamentally requires consistent effort and time. While timely payments are crucial, whether they are made in one lump sum or split into two according to this rule does not have a definitively proven, unique impact on how quickly your score rises. Focusing on paying your balance in full and on time, and keeping your credit utilization low, remains the most effective approach to establishing and improving credit.
