This add-on allows you to setup and assign ranks to your based on their balance. While Badges are awarded for specific point related events, Ranks are assigned based on a users balance alone. This means that as the user gains more and more points, they earn a higher and higher Rank. Each rank can just hold a title or also include a rank logo.
Once the add-on is enabled, a new Ranks menu becomes available in the myCred menu or under your first point type menu if you have more than one setup. Before creating new ranks, you should visit the Settings page of the point type and check your add-on settings. Make sure you save, even if you make no changes.