Brown the beef and bacon: In a large skillet over medium heat, cook the ground beef and chopped turkey bacon together until the beef is no longer pink, about 7 minutes. Drain off any excess fat before continuing.

Cook the onion and garlic: Add the diced onion and minced garlic to the same skillet. Cook for about 3 minutes, until the onion turns soft and translucent.

Transfer to the crockpot: Move the beef mixture into a 6-quart slow cooker. Add the black beans, pinto beans, corn, diced tomatoes and beef broth.

Season the soup: Sprinkle in the ranch seasoning mix and chili powder, then stir everything together until well combined.

Slow cook: Cover and cook on low for 6 to 7 hours or on high for 3 to 4 hours. The soup is ready when the beans are tender and the broth smells fragrant.

Add the cream cheese: About 20 minutes before serving, add the cubed cream cheese to the crockpot. Stir every few minutes until it melts fully into the broth.

Stir in the cheddar: Add the shredded cheddar cheese and stir until the soup turns smooth and creamy throughout.

Taste and serve: Season with salt and pepper to taste. Ladle the hot soup into bowls and serve right away.