What exactly does a cloak card do? I have used it to enhance a blade, a trap and a feint but I am not sure what it does to it? Also does any know of a specific place a cloak card could be found?
I believe the Cloak card covers up one of the Monsters shields or charms, effectively rendering it useless. Similar to the Earthquake, but only affects one person. I got one, but haven't used it yet. There are also spells that allow you to steal shields or charms from your opponents. But you can get those if you're from an Elemental School, such as Fire, Ice or Storm.
What exactly does a cloak card do? I have used it to enhance a blade, a trap and a feint but I am not sure what it does to it? Also does any know of a specific place a cloak card could be found?
They are rare drops and can't be bought...well, maybe booster packs, I'm not sure. I believe they cloak a current booster spell so you can cast another.
The cloak card is meant to make traps and blades invisable to the opponent. As far as I know it is glitched though.
As for the location, from what I have read, the cats in Marlybone can drop them. Personally, I have only recieved one cloak card, but have not used it ATM.
Wizard101central.com has a thread on this. Basically, it masks whatever buff you cast on yourself, so that in PvP your opponent won't know what blades and shields you have up.