Abstract: A rotary cutting tool and method for cutting a shape in a workpiece. The rotary cutting tool includes a shank portion, a cutting portion, a bearing connected to one end of the cutting portion, and a rub collar attached to the periphery of the bearing. The outer diameter of the rub collar is selected to be larger than the diameter of the cutting portion. The rotary cutting tool is used to cut a workpiece, such as decorative plastic laminate, to the approximate shape of the substrate, such as a counter top, to which it will be mounted. The larger diameter rub collar allows the workpiece to be cut larger than the dimensions of the substrate in order to reduce the level of skill and amount of labor required for the cutting operation and subsequent placement of the workpiece onto the substrate.