The first thing you do on the race is give up your personal belongings in a bag including wallet and money. I imagine they would take the FF elite cards too.
However, you could still memorize the numbers and they give them to the check-in agent, unless of course you are on a partner airline.
I wonder how the program will work as things keep changing. I.e., you could fly Lufthansa and connect to FlyNet Internet onboard, thus researching all about your destination including maps before you even get there.