Raid,
You can save some cash and pay once a year, it's a lot cheaper and how I do it every year. I think now it's down to $99 a year for iRacing, plus you get $25 in credits to spend on cars/tracks if you buy a year.
And someone offered to PAY for your 3 month membership. I'd jump all over that! You'll be going up against the best of the best, so you can see how you stack up against the other top simracers.
The only downside is yes you have to give them your credit card # on file, even if using a gift membership. But all you have to do is uncheck the auto renew and your set. Nothing will be charged to your card. In a way this keeps out random people from signing up and making it seem more serious with people using their real names.
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