I started developing tcg for android, using ADT bundle.
What is the right approach/way for making/storing cards/game info, local sqlite, some kind of data file? some service? or something else?
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You could probably benefit of a data driven approach. I'm assuming the premisse that every card might have one or more associated effects, or it can just have some stats and no special effect, something like M:tG.
You can create the effects each on it own class and probably use a factory to generate them as the cards are instantiated. The more generic the effect, the easier to reuse.
Then you create the cards as data, if they are saved on xml, sqlite, or whatever is up to you. With this approach you only need to change the code if implementing new effects, any new card using existing effects will just be added to the data files.
Of course those are only illustrative, you need to design the TGC first and only then you can design a good data model.