Se ho capito bene, puoi usare CASE EXPRESSION in questo modo:
SELECT id,user_id,
case when friend_points between 0 and 49 then 'Normal rate'
when friend_points between 50 and 99 then 'Friend'
when friend_points between 100 and 149 then 'Good friend'
.......
end as 'Friend_Status'
FROM profile
MODIFICA:
Oppure, se questi nomi possono cambiare dinamicamente, con un join:
SELECT t.id,t.user_id,s.name
FROM profile t
INNER JOIN friend_levels s ON(t.friend_points >= s.points_needed)
WHERE s.points_needed = (select min(f.points_needed)
from friend_levels f
where t.friend_points >= f.points_needed)
