Brown the beef: Heat the oil in a large pot or Dutch oven over medium-high heat. Add the ground beef and cook, breaking it up, until no longer pink.
Season lightly with salt and pepper. Drain excess fat if needed.
Sauté the aromatics: Add the onion, bell pepper, and jalapeño. Cook 4–5 minutes until softened.
Stir in the garlic and cook 30 seconds until fragrant.
Add the spices and tomato paste: Stir in chili powder, cumin, smoked paprika, oregano, onion powder, garlic powder, and cayenne. Toast the spices for 30–60 seconds, then mix in the tomato paste until it coats the meat and veggies.
Pour in liquids: Add the diced tomatoes with chiles and beef broth. Bring to a gentle boil, then reduce to a simmer.
Cook 10 minutes to let flavors develop.
Make it creamy: Lower the heat. Stir in the cream cheese cubes until fully melted and smooth. Add the heavy cream and simmer 3–4 minutes, stirring often.
Finish with cheese: Sprinkle in the shredded cheese a handful at a time, stirring until melted and the soup is slightly thickened.
Taste and adjust salt and pepper.
Serve: Ladle into bowls and finish with a squeeze of lime. Add your favorite toppings like avocado, cilantro, green onions, sour cream, or crushed pork rinds.