The range of FICO credit score scale is anywhere between 300 and 850. Below is a list of the ranges to help you understand how banks determine your risk levels as well as credit terms:

720 - 850 - Excellent Score. Banks will offer you the best possible terms and charges they can find.

700 - 719 - Very good Score. Creditors may consider offering you favorable credit terms.

675 - 699 - Average Score. Lenders consider you within the average range, so you'll qualify for most loans.

620 - 675 - Sub-Prime Score. Although you will still qualify for loans, you may be charged higher interest rates

560 - 619 - High Risk Score. Banks consider you a bad credit risk and will be wary of offering you further loans unless you can verify you'll improve on your past poor history

500 - 559 - Extreme Risk Score. You need to do some serious repair work on your credit score today

Now you know the ranges used by banks to determine your personal risk category, did you know the average American FICO score is 692?