Eighty-nine black women’s racial and gender identities were examined within an intersectional framework that emphasized their unique integration of these identities. Quantitative analyses indicated that the intersected black-woman identity was more important than the individual identities of woman and black person. Further, interference in the black identity (but not interference in the woman identity) was related to lower self-esteem and depression. Qualitative analyses of rewards and difficulties experienced as black women identified four themes: stereotyping and discrimination, personal esteem, isolation from others, and opportunities and resources. Black women who mentioned any reward reported higher self-esteem than those who did not. The value of an intersectional framework for thinking about black women’s identities is discussed.