Here's the list of all the arcana cards which are another important aspect in Persona. You can only take one. Please, for the Fool, Death, Judgement and World, no touchy unless you've got the permission from the Admins.

0. Fool
" In many esoteric systems of interpretation, the Fool is usually interpreted as the protagonist of a story, and the Major Arcana is the path the Fool takes through the great mysteries of life and the main human archetypes. This path is known traditionally in Tarot as the Fool´s Journey, and is frequently used to introduce the meaning of Major Arcana cards to beginners "

I. Magician
Action — Consciousness — Concentration — Personal power
Practicality — Energy — Creativity — Movement
Precision — Conviction — Manipulation — Self confidence
Being objective — Focusing — Determination — Initiative

As you might expect, Personas of the Magician Arcana tend to be spellcasters. Furthermore, they are inclined towards an affinity for the element of Fire and a weakness to the element of Ice. This Arcana is, on the whole, one of the weakest in the game, with its highest-ranked Persona (Surt) having a Base Level of 50, the lowest among all Arcana.

II. Priestess
Intuition ----- Nonaction ----- Mystery ----- Calmness ----- Silence
Inner voice ----- Deep understanding ----- Discretion ----- Sensitivity
Distance ----- Stability ----- Wisdom ----- Unconscious knowledge
Patience ----- Looking inward ----- Contemplation ----- Subjective mind

Priestess Personas also focus on magic. They are somewhat split between emphases on Ice and Recovery magic, and are generally weak against Fire.

III. Empress
Mothering ----- Fertility ----- Sexuality ----- Abundance
Material prosperity ----- Pleasure ----- Comfort ----- Power
Nature ----- Delight ----- Desire ----- Physical attraction
Health ----- Sensuality ----- Beauty ----- Satisfaction

Empress Personas are like Priestess Personas, with a fairly similar spread between Ice and Recovery. You might call the Empress Arcana a stronger version of Priestess, since Empress Personas are overall very high-level.

IV. Emperor
Fathering ----- Stability ----- Authority ----- Power
Control ----- Discipline ----- Command ----- Common sense
Status quo ----- Order ----- Structure ----- Egocentrism
Tradition ----- Rigidity ----- Leadership ----- Experience
Inflexibility ----- Conservative ways ----- Organization

The Emperor Arcana is as close as you can get to being an Electricity-based Arcana, with all-around decent offensive capabilities, although somewhat skewed towards magic.

V. Hierophant
Education ----- Knowledge ----- Status quo ----- Institution
Conservatism ----- Discipline ----- Maturity ----- Formality
Deception ----- Power ----- Respect ----- Duality
Social convention ----- Belief system ----- Group identification
Experience ----- Tradition ----- Naïve

Hierophant is a very balanced Arcana. Hierophant Personas have well-rounded stats and do not tend towards any single element; instead, support and passive skills are more prevalent. In general, Hierophants are not exactly offensive powerhouses, but are fairly useful regardless.

VI. Lovers
Love relationship ----- Union ----- Passion ----- Sexuality
Pleasure ----- Humanism ----- Desire ----- Personal beliefs
Individual values ----- Physical attraction ----- Connection
Affinity ----- Bonding ----- Romance ----- Heart
Choice ----- Doubt ----- Difficult decision ----- Dilemma ----- Temptation

Lovers Personas are generally healing specialists, with a decent spread of various other skills. Nothing much more to say about them. Or maybe I'm just lazy.

VII. Chariot
Conquest ----- Honor ----- Victory ----- Energy
Egocentrism ----- Self confidence ----- Conviction ----- Anxiety
Willpower ----- Self assertion ----- Hard control ----- Discipline
Inflexibility ----- Success ----- Wealth ----- Recognition
Impulsivity ----- Command ----- Bravery ----- Pride

The Chariot Arcana is one of three in the game with a clear focus on physical skills. It is generally the first one that you will gain access to, and, unsurprisingly, it is also the weakest. Nevertheless, since there are relatively few Personas with a physical focus, as opposed to the wealth of those focused on magic, Chariots are going to be of help to any brawler-oriented approach to developing a build for the protagonist. Note that Chariots are rather lacking in terms of Pierce skills, and are split fairly evenly between Slash and Strike skills.

VIII. Justice
Impartiality ----- Distance ----- Coldness ----- Justice
Objective mind----- Criticism ----- Being clever ----- Insensitivity
Decision ----- Intellect ----- Analysis ----- Realism ----- Severity
Responsibility ----- Rationality ----- Clear vision ----- Logic and reason

Justice Personas are Light specialists. They are all weak against Dark attacks, so you're essentially nullifying half of potential instant-kill attacks in exchange for making yourself more vulnerable to the other half. As far as other skills go, there is a fairly even spread in terms of physical, magic, and healing skills. Justice is another decent all-around Arcana.

IX. Hermit
Introspection ----- Silence ----- Guidance ----- Reflection
Solitude ----- Looking inward ----- Reclusion ----- Being quiet
Inner search ----- Deep understanding ----- Isolation
Distance ----- Retreat ----- Philosophical attitude

Hermits are a bit different from everyone else, which befits the Arcana name. They tend to lean a little bit towards Bad Status skills and debuffs, which make them fairly specialized. They don't have many chances to shine, but they can turn the protagonist into a decent support fighter.

X. Fortune
Turning point ----- Opportunities ----- Possibilities
Destiny ----- Fate ----- Superior Forces ----- Movement
Development ----- Activity ----- Surprises ----- Expansion
Sudden Events ----- Speed ----- New Developments ----- Life Cycles

Fortune is quite obviously the Wind Arcana. There is no need for any sort of complex analysis here.

XI. Strength
Self-control ----- Being solid ----- Patience ----- Compassion
Composure ----- Stability ----- Perseverence ----- Moderation
Kindness ----- Gentleness ----- Slowness ----- Softness
Serenity ----- Comprehension ----- Discipline ----- Inner strength

Strength is the mid-tier physical Arcana. It should be noted that Strength Personas focus almost exclusively on Slash skills.

XII. Hanged Man
Sacrifice ----- Letting go ----- Surrendering ----- Passivity
Suspension ----- Acceptance ----- Renunciation ----- Patience
New point of view ----- Contemplation ----- Inner harmony
Conformism ----- Nonaction ----- Waiting ----- Giving up

Staying power is the name of the game when it comes to Hanged Man Personas. They comprise the only Arcana with a distinctly defensive focus, with high Endurance stats and growth across the board. Hanged Man is kind of like a sturdier version of Hierophant, but with less offense.

XIII. Death
Ending of a cycle ----- Loss ----- Conclusion ----- Sadness
Transition into a new state ----- Psychological transformation
Finishing up ----- Regeneration ----- Elimination of old patterns
Being caught in the inescapable ----- Good-byes ----- Deep change

No one should be surprised that Death Personas specialize in the Dark element and are generally weak against Light.

XIV. Temperance
Temperance ----- Harmony ----- Balance ----- Health
Moderation ----- Joining forces ----- Well-being ----- Recovery
Equilibrium ----- Transcendence ----- Unification ------ Healing
Synthesis ----- Bringing together opposites ---- Feeling secure

Temperance Personas are good offensive casters, covering Fire, Ice, and Electricity, with a bit of leaning towards Ice.

XV. Devil
Materialism ----- Ignorance ----- Stagnation ----- Self bondage
Lust ----- Egoism ----- Obsession ----- Anxiety ----- Anger
Ganance ----- Hedonism ----- Passion ----- Animal instincts
Sexuality ------ Temptation ----- Lack of faith ----- Vice
Futility ----- Physical attraction ----- Pessimism ----- mistakes

Devils specialize in Bad Status and also dabble in Dark skills. Given their implied origin, they are generally strong against Fire. Naturally, they fare poorly against Light skills.

XVI. Tower
Chaos ----- Sudden change ----- Impact ----- Hard times
Crisis ----- Revelation ----- Disruption ----- Realizing the truth
Disillusion ----- Crash ----- Burst ----- Uncomfortable experience
Downfall ----- Ruin ----- Ego blow ----- Explosive transformation

Tower is the ultimate physical-based Arcana. Personas in this group are more or less offensive powerhouses, with plenty of strong Slash and Pierce skills, high levels, and an occasional offensive spell for flavor. By all means, use Tower Personas, and enjoy doing so.

XVII. Star
Calmness ----- Free-flowing love ----- Trust
Tranquility ----- Peace of mind ----- Pure essence
Hope ----- Serenity ----- Inspiration ----- Generosity
Thinking positive ----- Joy ----- Faith ----- Regeneration
Good will ----- Optimism ----- Harmony ----- Renewal of forces

Star is another strong all-around Arcana, but Star Personas are also very beefed up, with much higher levels relative to most other Arcana. Offensive spells trend towards either Fire or Wind. The one Persona that seals the deal is Lucifer, who is, with little debate, the single strongest Persona in the game.

XVIII. Moon
Lack of clarity ----- Tension ----- Doubt ----- Fantasy
Deception ----- Psychological conflict ----- Obscured vision
Confusion ----- Illusion ----- Fear ----- Imagination ----- Worry
Romanticism ----- Anxiety ----- Apprehension ----- Unrealistic ideas

The Moon Arcana could be seen as a relative weak link in the Arcana order, situated right in between Tower/Star on one side and Sun/Judgement on the other, but it is far from being a weak Arcana. Moon Personas have a great spread of offensive skills, whether they be physical or magic, and come with the levels and stats to back them up.

XIX. Sun
Optimism---Expansion---Being radiant---Positive feelings
Enlightenment---Vitality---Innocence---Non-criticism
Assurance---Energy---Personal power---Happiness
Splendor---Brilliance---Joy ---Enthusiasm

You could consider Sun to be a stronger version of Justice. Both Arcana shrug off Light attacks and are weak to dark attacks. However, Sun Personas generally eschew wielding Light attacks of their own in favor of a diverse body of general offensive spells.

XX. Judgement
Judgment ----- Rebirth ----- Inner Calling ----- Absolution
Restart ----- Accepting past mistakes/actions ----- Release
Forgiveness ----- End of repression ----- Reconciliation ----- Renewal
Decision ----- Salvation ----- New beginning ----- Hope ----- Redemption

Judgement is kind of like Sun, except without the weakness to Dark, generally speaking. Personas of this Arcana are by far the highest-leveled Personas in the game.

XXI. World
Fulfillment -----Accomplishment -----Success
Integration -----Involvement -----Prospering
Satisfaction -----Repleteness -----Contentment
Good feelings -----Wholeness

Information entirely ripped from wikipedia and this guide ; http://www.gamefaqs.com/console/ps2/file/932312/49926