There's nothing wrong with a card that has your name and phone number on it, just make sure there's no reference to the fact that you are trying to sell cakes or want to have a business.
I had to change mine once I found out that I couldn't sell from home. I took off my business name. Now it just has my name, phone number and e-mail. It also has a small picture of one of my favorite cakes that I've done, but there's nothing said on the card to indicate that I have a business.
My friends who ask for cakes also know that I can't sell the cake to them for a specific price. The cake is given to them, free. I don't want to be illegal in any way. Oh, don't get me wrong, they take very good care of me.....they just aren't allowed to buy my cakes from me!
I don't think it's illegal to pass out business cards if you are not a business, but you are putting yourself out there then....saying "I'm a business". See what I mean? I would keep info to a minimum...
Lots of people fly under the radar, heck, most of us started that way that are licensed now.... You just have to be a bit more careful....
Jen 
If you take anything for a cake, that is considered compensation. Whether it is ingredients, cake pans, supplies, etc.
Also, if the card falls into the wrong hands (HD) and they email or call you for a cake...what do you tell them? Don't get me wrong, you can do cakes for family and friends, but if you advertise in any way, you open yourself up to the HD.
I "barter" a lot of my products . Sometimes the trade is balanced by cash....just like any other "trade" mimi
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