Just in case some of you are not aware of this..I learnt it ages ago at a Stampin Up night. I use the long narrow tag punch a lot but often need it shorter for smaller words etc.
I took a snap of how to do this.
Just stick a pice of narrow scrap card to the back, insert the precut shape into one end of the punch shape from above, position where desired and punch out.
I stamp first, cut the full size punch and position the writing to one end, then insert and trim off the other end, it will be rounded the same and look perfect.
Please let me know if you do not understand and I will try and simplify.
I am hoping this pic will make it clear!