Help with 'points store'

On my forum a user made an awesome suggestion:
You should make it so that you can use your points to buy things

I think it's a great idea, so is there a way i can do this? like, for example, if a user has 500 points, they can buy a special rank which gives them a badge above their avatar when making a post

Is this possible????

Any help appreciated in advance
ps: let me know if you need additional information!

Yes, but HOW do i do that? i want to know how to turn a regular forum / category into a points shop

I'm sort of new to this, so how do i do it though?
Do I go into administration panel and edit any settings? such as "users will spend _____ points to get picture.jpg as a custom avatar" or something? Or do i have to manually assign the store-bought items myself?

Oh, and how can i make it so that users with like 100 points can get special access to forums?

OHHHHHHHHHHHHHHHH

I'm not too bright for not getting that... lol, thank you for your help Rideem

Solved + thanks