What are points and tokens and tiers and why should i care?

Can someone please point me to a place that explains all about this?

ParagonWiki to the rescue:
Reward Tokens / Tiers!
(short version, they're Vet Rewards 2.0)

Points (I assume you mean Paragon Points) are basically a pseudo currency bought with real money (plus 400/550 given monthly for VIPs for free), used to buy various things, like costume pieces, powersets, etc, for use in the game.

We've been saving Paragon City for eight and a half years. It's time to do it one more time.

Thanks!