Noob questions

1)Is the island all there is to factions? It's kind of getting boring

2)How do I get a pet?

2) Can only get a pet by being a ranger and having Charm Animal equiped.

Not sure about the factions thing as i dont have it yet.

When you complete the second Mission on the island, Zen Daijun, you will end up in Seitung Harbor. Speak to First Mate Xiang for a passage to the mainland.

ok, that was easy.

What are monastary credits for?

Monastery credits can be traded with Quartermasters in various towns on Shing Jea Island.

You can trade them at the Monastery Quartermasters who can be found in Shing Jea Monastery and Seitung Harbor.

For really simple questions, don't forget Guildwiki

They're collector items. In Shing Jea Monastery and Seitung Harbor, you'll find Monastery Quartermasters who will exchange standard merchant items and weapons (e.g. id kit, salvage kit, keys, etc.) for various amounts of Monastery Credits.

by seeing you don't know how to get to mainland i'll tell you this too
when you get to the marketplace (the first outpost you enter on the mainland) head out to bukdek byway and find your way to Kaineng center wich is the main city of Factions where you can buy max armor and other stuff you might need on your long journey throughout factions
you got a long way to go so don't worry you'll have more then enough enemies waiting for you

The Island is only the tutorial portion of factions.