I used it for hole-punched index cards (the large ones) in the classroom.

I did have to use an adjustable hole punch like this one Swingline Desktop Hole Punch, Precision Pro, 2 - 3 Holes, 10 Sheet Capacity, Adjustable Centers (74037) and then use the first, fifth, and seventh holes

I luckily have a three hole punch that allows me to move the punch holes

I needed a different hole punch than I had at home, but actually the normal sized hole punch for standard sized papers is just fine

There's even a special pocket for standard 8.5 x 11" papers that doesn't require holes punched