The MBA, or any other program for that matter, is an investment. If you are going to do it, do it right. While the online option is sweet and with less hassle, it is a bad option in the long term. Remember, the connections/networking you do in business school just as important as the degree. The online option doesn't give you that edge.
Instead of the online option, do the part-time executive/professional mba instead. All the schools have that option, and with your GMAT 650, you will get in. These part-programs meet once every week/end, etc. Like the full time programs, you will still be able to make the all important connections during the part-time mba, something you can't from the online MBA.