I have used these as homework punch cards; the students would get one hole punch for each individual piece of homework that they did. This could also be used so that they get one hole punch for doing an entire night's homework. When all of the numbers have been punched, they get some sort of reward.
I have also seen punch cards used as behavior cards; when a student calls out or get out of their seats without raising their hand, they get a hole punch. This is a more negative way to use the punch cards, because if all of the numbers have been punched for this, then there is a consequence.