Whip the 8-ounce block cream cheese (softened to room temperature) and 1 ¼ cups sour cream together in a large bowl using an electric hand mixer.
Add 2 cups shredded cheddar cheese, ¾ cup real bacon bits, 4 thinly sliced green onions, and 1 teaspoon garlic powder.
Whip until combined.
Serve immediately or chill before serving.
Serve with crackers or chips, such as Ritz Crackers, Fritos, club crackers, tortilla chips, or even veggies.