Preheat your oven to 350°F (175°C).
In a mixing bowl, combine the cream cheese and sour cream until smooth.
Add the shredded cheddar cheese, crumbled bacon, green onions, jalapeños (if using), garlic powder, salt, and black pepper.
Transfer the mixture to a baking dish or pie plate, spreading it evenly.
Bake in the preheated oven for 20-25 minutes or until hot and bubbly.
Remove from the oven and let it cool for a few minutes before serving.
Serve with tortilla chips, crackers, or fresh veggies.
Garnish with additional green onions or bacon if desired before serving.