Punch or Cut?

I have both a Xikar Xi cutter, and two Xikar punch. I use the punch about 99% of the time. (I don't smoke very many torps.)

The only problem with the Xikar punch, is that I have it attached to my key ring, and the cutter will become exposed. I have already damaged one (with Xikar is replacing at no cost.)

Since the damage to my first punch, I wrap a rubber band around it to keep the cutter from being exposed.