Use a counterfactual test
Ask whether you would choose the same activity without points or status. Only value benefits attached to behaviour already inside your limit; ignore rewards that induce extra play.
Price non-cash costs
Time, attention, data sharing and exposure to personalised marketing all matter. A nominal reward can be poor value when these costs and restrictions are included.
Make status disposable
Never chase a tier before a deadline or recover a downgrade through higher stakes. Personal financial and wellbeing limits should be permanent; loyalty status should not be.