Cutting straight lines in card without a "chopper" just requires a metal straightedge. Just mark the line with pencil, then use the metal straightedge as a guide for a scribing tool of your choice. The back of a #11 blade works fine. Main thing is not to press down as you draw the tool across the plastic, as that's what'll cause the line to wander off the guide. Once you've scribed the line maybe 1/3 the plastic thickness, you can snap it pretty clean over the edge of your bench/table. The "cut" will be a little rough to the touch up close, but perfectly straight (or as much so as your scribed line was, hence the metal straightedge), so it only takes one or two quick strokes of a sanding block to make it perfect.
For waterlining, the trick I've seen is to mark the cut line first by floating some paint (or anything that will float and stick, I've even seen hot coco mix used) on the surface of some water in a tub or bucket, and carefully dipping the boat in. This gives you an even marking all around to act as a cutting guide, which is 90% of the difficulty in waterlining.
Once you've got the line marked, if the hull is hollow just rip along the line with a cutting wheel in your Dremel, then clean the edge with a sanding block.