In a large pot over medium heat, warm a splash of oil. Add diced onion and bell peppers, cooking for about 5-7 minutes until softened and fragrant.

Once the vegetables are softened, add 1 pound of tender beef to the pot. Cook this for about 5-6 minutes, stirring frequently until the beef is browned.

Add 8 ounces of cream cheese into the pot with the beef and veggies. Stir until the cream cheese melts into the mixture.

Pour in 4 cups of beef broth, stirring well to blend everything together. Bring to a gentle simmer and let it cook for about 10 minutes.

In a small bowl, mix 2 tablespoons of cornstarch with 2 tablespoons of cold water to create a slurry. Stir this into the soup to thicken it over the next 5 minutes.

Stir in 6 slices of crispy bacon and 1 cup of shredded cheddar cheese. Let combine over low heat until melted.

Ladle the soup into bowls, serve hot with crispy toasted bread on the side for dipping.