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It appears a photo could be no larger than 7" x 4" -- allowing for a bit of space. So a common size would be 6x4? Not very many of the photo "deals" come in that size, if you order online through someone like Walgreens. Is that correct? Of course I can print my own, but knowing me, I won't. Is that why this is a clearance item? An index card runs about 5x3. The photo looks so picture perfect, but none of the hundreds of photos I need to organize are the same size. Binders don't work: the photos are either always falling out, or too tight. Even ziplock bags fail ultimately. 
If I had to guess, I'd say it's on clearance because too many people complained about it, but let me answer your question first. Yes, it holds photos that are 4x6 or smaller. Now, let me say this thing is a pain in the butt to put together! It's a hard plastic that is not very flexible, so trying to bend it, hold it and try to fit the tabs in the slots is almost impossible. I had to put it aside twice because I got so frustrated! If I was you, I wouldn't buy it. As for other options, well, I would suggest you get all future prints in the same size unless you're going to frame them. That will just make it easier from now on. 
