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other than joining events..

Prestige?

They give a higher weight to your ratings, but mostly along with commendations they serve as evidence of your devotion to the glorious kingdom of Cystia and your worth as a human being in general.

Oh, cool, I didn't know that tidbit about the ratings.  You're just a font of neat information.  (I'm not being sarcastic.)

They're your points, you can use them for anything you want.

You can trade them for contraband, if you have the right connections.