I just got an offer in my latest Diner's Club statement offering an option to renew my Diner's Club membership using points instead of $$. Here's the breakdown:

Normal yearly membership fee = $95

Offer:

16,000 points = Free membership
12,800 points = $19 renewal fee
9,600 points = $38 renewal fee
6,400 points = $57 renewal fee
3,200 points = $76 renewal fee

Is this a good deal? For some background, I earn Diner's points at a rate of 2 points per $$ spent.

Any advice would be greatly appreciated.