Are the points different? I bought grandson the one from TigerDirect that came up a week or so ago, but there are also games he wants that require points. I'm taking from your question that they are not the same? I was hoping that I could buy two of these and he could use them for the games instead of subscription for a year.
Gold membership is just to access online features and full media streaming. It will give you the updates to your xbox and games. It's worth just getting the 3 month to try it out but when you do, you will always want the yearly gold package. Thus the need to find good yearly deals.
Points are just to be used if you have the gold membership to buy games and download them right to your xbox instead of going to the store. You also use them for renting/buying movies, music, extra features, and so on. And my son likes to buy everything.