In a large mixing bowl, add the softened cream cheese, sharp cheddar cheese, diced pimentos, and chopped jalapenos. Mix until well combined.

Use an electric mixer or spatula to mix until smooth and creamy, about 3-4 minutes.

Sprinkle in the garlic powder, onion powder, salt, and fresh ground black pepper. Mix thoroughly for another minute.

Transfer the mixture to a serving bowl, cover with plastic wrap, and refrigerate for at least 30 minutes.

Allow dip to sit at room temperature for 10-15 minutes before serving. Serve with crackers or fresh veggies.