Cards are formed by intermittently die cutting both ends simultaneously from a web of polyester material, providing cards of a width equal to that of the web. This ''''cookie-cutter'''' approach leaves a small scrap strip between cards, but assures that the cards will be of consistently accurate length with precisely positioned corner cuts or rounded corners being formed at the same time as the transverse end cut. During the punching stroke, the uncoated side of the web is attracted by vacuum to the punch just before it enters the die; and two U-shaped movable guides that laterally support the web are spread apart to release the card as it is cut from the web; whereupon air under pressure is supplied to the punch to divert the scrap strip into a receptacle and release the card onto a conveyor for stacking.