In a large skillet, heat the olive oil over medium heat. Add the diced onion and cook until translucent, about 4-5 minutes.

Add the minced garlic and ground beef to the skillet. Cook until the beef is browned and fully cooked, breaking it apart with a spoon, about 5-7 minutes.

Stir in the diced tomatoes with green chilies, black beans, corn, cream cheese, cheddar cheese, chili powder, cumin, salt, and pepper. Mix well until the cheese is melted and everything is combined.

Reduce the heat to low and let the dip simmer for about 5-10 minutes, stirring occasionally.

Once the dip is creamy and heated through, remove from heat. Garnish with chopped cilantro.

Serve warm with tortilla chips for dipping.