Here is an incomplete list of things you can do with your Karma Points, which are gained through regular play and not being a douche. The standard cost is going to be 100 Karma per item on this list.
Buying a Merit for your character (also applies to a new character having an overlapping Merit). You must also spend Level of Merit x10 in XP for that character and it has to be approved by the STs (there needs to be a Story reason for it).
Having a Flaw removed from one of your characters (or being allowed to have another character with the same overlapping Flaw). As with Merits, there still needs to be an IC reason for this to happen and it needs ST approval. For example: One eye? Maybe Vicissitude would help. (Otherwise we could let it happen but replace it with another Flaw of our choosing… Haunted Eyeball anyone?)
For each character submitted after the first, a 10 Karma (per active character currently) charge will be applied. So if you have 4 characters, it will cost 40 Karma to submit a 5th. Adopted characters cost no karma, but will count as active for you.
Playing something not on the list of ‘allowed’ clans. Examples: Gargoyle, Kaisyd, or Lasombra-Anti (Will still require a talk with the STs about concept approval.)
Creating an exceptional starting character. Possibilities Include: Additional Freebies (50), Lower Generation Vampire, +Rank Starting Shifter, etc.
These stack!!! If you want a Shifter at Rank 2 and it be of a ‘Special’ type you have to have 200 points of Karma to do so, plus any for having multiple characters active already.