A stand-alone apparatus for cutting a web of media or tag stock into individual units for use downstream of a printer. The apparatus may cut vinyl, plastic, or RFID stock material in both back and forth directions. The apparatus comprises a housing, a carriage assembly and a movable cutter assembly. The cutter assembly is easily interchangeable and comprises a cutting element such as a wheel blade, and a pressure adjusting element for adjusting the amount of pressure applied by the cutting element to the stock material. Alternatively, the cutter assembly may be manufactured with a predetermined pressure load, but still permit an operator to adjust the depth of cut. The apparatus may be powered by and or in hardline or wireless communication with a printer, or may further comprise a computer microprocessor, memory and user interface to function wholly independent from a printer.