I would doubt that they would give you a hard time if you called. I would not call it a "cancellation" but rather ask whether you can "upgrade" from 1-year to lifetime for the extra $4,200. Hard to imagine that they won't want that cash now. That said, I wouldn't do it. Who knows what RCC will look like going forward. Consider that if you flew 3x/week out of BWI thinking that it's great to have a lounge diagonally opposite the UA gates, that you would now have wasted your money because UA closed the lounge.