Influence or Reputation Rewards

Reputation will gain a faction's trust - when you're allied you'll be offered the most lucrative missions.
Influence helps that faction's overall influence in the system, allowing you to expand factions you like, or you can reduce influence TO CRUSH YOUR ENEMIES.

Or what Old Duck said far more succinctly
 
A quick note...

Taking the rep++ option when accepting mission rewards also increases your rank by a magnitude with the corresponding super power (federation/empire/alliance). So long as the mission giver is actually aligned with a super power...

So if you're looking to rank up to get a Clipper or Corvette you should pay attention to the reputation options when handing in missions.

On one hand, you could accept 1,000,000 credits and rep++ for easy money and moderate reputation.

Or....

You could settle for just 150,000 credits and rep+++++ which would put you much closer to that dream ship.

It pays to plan ahead.
 
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