In a large pot, add the chicken breasts, diced onion, minced garlic, red bell pepper, green bell pepper, diced tomatoes with green chiles, and chicken broth. Season with cumin, chili powder, salt, and pepper.
Bring the pot to a boil over medium-high heat, then reduce the heat to low. Cover and simmer for about 20 minutes, or until the chicken is cooked through.
Remove the chicken from the pot and shred it using two forks. Return the shredded chicken back to the pot.
Add the black beans, corn, and heavy cream to the pot. Stir well to combine and bring the soup back to a gentle simmer.
Gradually stir in the shredded cheddar cheese until melted and creamy. Taste and adjust seasoning if necessary.
Let the soup simmer for another 5–10 minutes to allow flavors to meld together.
Serve hot, garnished with fresh cilantro and lime wedges on the side for an extra zing.
Notes
Serve with fresh cilantro and lime wedges for added flavor.