Question about contracts/repitation.

[Dash is better than Jacob]

Question!!!!
I've had 400+/600 reputation with some of the faction vendors I guess they're called, and well I went and spent a lot of the points. Would anyone happen to know if I made a huge mistake by doing so?
Will I have to get all the way back up to 600 to reach the next level? (Unknown, familiar, reliable, etc.)
Thank you!

[Etaew]

Reputation internally won't go down, you can spend it, but your status won't be lowered. This is what I have understood from what people have been saying on the forums, I personally have not spent any of mine yet.