Well, it depends on how much you value airline miles and hotel points. With the membership rewards options program you have when you convert your points to frequent flier miles you need 2 points to get 1 dollar. With the Rewards Plus Gold Card you are a part of the Membership Rewards Program (not options) and therefore can convert your points to frequent flier miles at a ratio of 1 point to 1 mile. Additionally, you need 1/2 as many points for hotel conversions as well. However, for gift certificates and cash the Options and regular membership rewards program gives you the same benefits. Also, any points you have now in the options program will become regular membership rewards points as long as you maintain your Rewards Plus Gold Card (or Platinum, Preferred Rewards Gold, or Preferred Rewards Green Card).

So this could be a great option if you want frequent flier miles or hotel points but if not then the cost might or might not be worthwhile depending on if you have Rewards Green Card or a Rewards Gold card. If you have a reward Green Card the extra cost would be ($150-$65 or $85 for 10,000 extra points which could get you a $100 gift certificate). So it would still seem worthwhile considering the other benefits offered with the card. With the rewards gold card $150-$90 you are paying $60 for the 10,000 points that can get you a $100 gift certificate. Still seems worthwhile as you can always go back to your old card after a year.

Sincerely,

JC