Understanding racial categorization processes has implications for how affirmative action policies are implemented. Two studies examined how socioeconomic status (SES) functions to predict support for application of affirmative action and other perceptions of Latino targets. SES emerged as a powerful predictor, over and above the influence of ancestry, on person perception (minority categorization, sociocultural cues) and support for affirmative action among both White (Studies 1 and 2) and minority (Study 2) perceivers. In conjunction with ancestry, SES influenced sociocultural impressions, such as perceptions of discrimination (Study 1 and Study 2) and cultural practices (Study 2), which informed support for implementation of affirmative action policies. Furthermore, the joint influence of SES and ancestry on affirmative action policies persisted even when controlling for general attitudes towards affirmative action (Study 2). Results suggest that SES is an important factor in person perception, and that perceptions of discrimination play a strong role in how “deserving” a target is of affirmative action.