I'm not a statistician, but a percentile is one of 100 units into which any given population can be broken for reporting purposes.
If your rating is in the 75th percentile, your rating falls within a group higher than 74% of the other players in the population.
I could be off by a percent or so, or may not have described it well, but that should be the gist of it.
What does percentile mean next to your rating?