1. Preheat the oven to 400 degrees. Line a baking sheet with foil and place the bacon on the foil. Cook for 15-20 minutes or until the bacon is crispy.
  2. Meanwhile, in a bowl, combine the cream cheese, mayo, sour cream, garlic powder, jalapenos, 1 cup of each cheese, and salt and pepper.
  3. When the bacon is done cooking, chop. Add ¾ of the chopped bacon to the mixture.
  4. Place the dip mixture into an oven safe baking dish.
  5. Top with remaining cheese and bacon.
  6. Bake for 15-20 minutes or until cheese is melted and bubbly.
  7. Serve with tortilla chips.