Being a baller basically gives you the right to bone any female/male you want... So let's say you're new in town. Your baller status is based on looks since no one knows what cards you hold. If you want to increase your baller status, be a senior girl. They increase your baller-status to a perfect baller score.
New Kid: Hey, I'm new in town. But I want to bone that chick. How should I go about doing so? No body here knows how manly I am!
Kid: You need to increase your Baller Status. Try being with Beth, she increases all Baller Statuses.
New Kid: Oh, okay!