Preheat your oven to 350-400 degrees Fahrenheit. If using a crock pot, set it to HIGH.
In a mixing bowl, combine the cream cheese, sour cream, and garlic powder. Mix until the mixture is creamy and smooth.
Add the shredded cheddar cheese, chopped jalapenos, crumbled bacon, and canned green chilies to the bowl. Stir well to combine all the ingredients evenly.
Transfer the mixture to a baking dish, spreading it out evenly. If desired, top with additional cheese and crumbled bacon for extra flavor and texture.
Bake in the preheated oven for 15-20 minutes, or until the dip is warm and bubbly. If using a crock pot, cook on HIGH for about an hour, then switch to the warm setting.
Once baked, remove from the oven and let it cool slightly before serving. Enjoy warm with your choice of crackers, baguette slices, or chips.