Abstract: A hand held loop cutting tool for cutting tufted loops of yarn projecting from a carpet includes a handle portion connected to a blade carrying housing portion carrying a blade holder having a plurality of slots for receiving a like number of blades. The blades have two cutting edges which may be secured in the holder with one of the edges projecting from the operating face of the housing. When the first edges of the blades are spent, the blade holder may be reversed within the housing to present the second set of edges. The blades themselves do not have to be removed from the holder until both cutting sets of cutting edges have been spent. A user merely needs to insert one of the first edges into each projecting loop where there are more than one projecting loop in a line of stitching and pull to cut the loop.