I just use my utility knife. Fold the cord over the blad, hang on to the two pieces realy tight and pull up and out. Cuts with no problems.
Just to put it out there http://www.ceramicknife.org/ sells ceramic razor blades that slide into a lot of bix box store knives. Best of both worlds.
It's just hard to cut with anything. Use super glue on the ends to stop the fraying.
I use big, heavy, mean-looking wire cutters. Masterhand, I think they are named. My ladyfriend got them to cut wire that she uses to make jewelry, so don't tell her that I use them to cut Amsteel.
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