Threat perception is a key issue defining intergroup conflict dynamics. To date, it has been linked with power asymmetries and value similarities between groups. This article examines the role of victimization memory in threat construction. The results of an experiment converge to suggest that personal and institutional victimization memories are robust predictors of the levels of threat perception. They act as primary references in the assessment of threat and suppress framing effects. The findings have significant implications for the theory of threat perception.