In a mixing bowl, combine the cream cheese, sour cream, and spices (chili powder, garlic powder, cumin, salt, and pepper). Mix until smooth.

Add the drained corn, diced tomatoes with green chilies, and shredded cheddar cheese to the bowl. Stir until well combined.

Transfer the mixture to a serving dish and garnish with chopped cilantro.

Serve immediately with tortilla chips or refrigerate until ready to serve.