Sauté the aromatics: Heat oil in a large pot over medium heat. Add onion and bell pepper.
Cook 4–5 minutes until softened. Stir in garlic and cook 30 seconds until fragrant.
Brown the beef: Add ground beef. Break it up with a spoon and cook until no longer pink, about 6–8 minutes.
Spoon off excess fat if needed, leaving a couple of tablespoons for flavor.
Bloom the spices: Sprinkle in chili powder, cumin, smoked paprika, oregano, cayenne, salt, and black pepper. Stir 1–2 minutes to coat the meat and release the spices’ aroma.
Add tomatoes and broth: Stir in diced tomatoes, tomato sauce, tomato paste (if using), and beef broth. Bring to a gentle simmer.
Simmer to thicken: Reduce heat to low and cook uncovered for 20–25 minutes, stirring occasionally, until slightly thickened and flavors meld.
Finish with cream cheese: Add cream cheese cubes.
Stir slowly until fully melted and the chili turns creamy and smooth. Simmer 3–5 more minutes. Adjust salt and pepper.
Add a splash of lime juice if you like brightness.
Serve and garnish: Ladle into bowls and top with your favorite keto-friendly garnishes like shredded cheese, sour cream, jalapeños, and cilantro.