Heat olive oil in a large pot or Dutch oven over medium-high heat. Add ground beef and cook until browned, breaking it up with a spoon. Drain off any excess grease.
Add the chopped onion and bell pepper to the pot. Cook until softened, about 5-7 minutes.
Stir in the minced garlic and taco seasoning. Cook for 1 minute more until fragrant.
Add the diced tomatoes, black beans, kidney beans, Rotel, chicken broth, and corn to the pot. Bring to a boil, then reduce heat and simmer for at least 15 minutes to allow flavors to meld.
Stir in the softened cream cheese until fully melted and the soup is creamy.
Serve hot with your favorite toppings.
Notes
For a slow cooker option, brown the beef and sauté the onion, bell pepper, and garlic on the stovetop first. Then, combine all ingredients except the cream cheese in the slow cooker. Cook on low for 6-8 hours or high for 3-4 hours. Stir in the cream cheese during the last 30 minutes of cooking.
This soup is great for meal planning. Portion it into individual containers for easy lunches.
Adjust the spice level by using mild or hot Rotel.