Most studies on perceived racial discrimination do not differentiate between macroaggressions (i.e., overt, purposeful discrimination) and microaggressions (i.e., subtle, typically unconscious discrimination) or examine gender. This study addresses these gaps by exploring: (a) the prevalence of perceived racial macroaggressions (PRMa) and perceived racial microaggressions (PRMi) in Black women’s lives and (b) how PRMa and PRMi influence depressive and anxious symptoms in this group. Participants were 187 undergraduate students who self-identified as Black women. Sixty-three percent of the participants reported experiencing some type of PRMa at least once in a while during the past year, and 96% reported experiencing some type of PRMi at least a few times a year. As hypothesized, PRMa and PRMi significantly predicted depressive symptoms; however, PRMa made a stronger unique contribution. Contrary to hypotheses, PRMa but not PRMi significantly predicted anxious symptoms. Findings suggest that PRMa and PRMi are common occurrences for Black women and are associated with negative mental health outcomes, with PRMa being the less common but more detrimental of the two.