Preheat oven to 350 degrees F. Prepare cast iron skillet or pan of choice

In a large nonstick skillet over medium heat, cook bacon in batches until crispy, about 8 minutes. Drain on a paper towel lined plate, then chop.

In a large mixing bowl, combine cream cheese, mayonnaise, sour cream, salt, pepper and garlic powder. Mix with an electric hand mixer until fully combined.

Add in the minced jalapenos (reserve some for topping), bacon (reserve some for topping) and 1 cup each of the sharp cheddar and Monterey jack cheese. Fold until evenly combined.

Transfer to cast iron skillet or oven safe baking dish. Spread evenly and then top with remaining half cup each of cheddar and Monterey jack cheese.

Bake until dip is golden and bubbly, approximately 15 minutes. Finish by Broiling for 3 minutes.

Sprinkle with reserved jalapenos and bacon. Enjoy warm with tortilla chips!