Place the softened cream cheese blocks in a medium-sized microwave-safe bowl. Ensure the cream cheese has been sitting out for at least 30 minutes for best results.
Pour both cans of chili directly over the cream cheese. Don't worry about mixing yet—the layering approach enhances the final texture.
Sprinkle the shredded cheese evenly across the top of the chili layer.
Microwave the mixture on high for 3-4 minutes, stopping halfway to check consistency. Alternatively, bake at 350°F for 15 minutes for a more evenly melted result with a slightly crispy cheese top.
Once heated through, stir the ingredients together until well combined but still slightly marbled for visual appeal.
Serve immediately while warm and gooey with tortilla chips or vegetable sticks.