Gather all ingredients.
Beat Cheddar cheese, cream cheese, mayonnaise, mustard, onion powder, and garlic powder in a medium bowl with an electric mixer on low speed until combined, about 2 minutes. Increase mixer speed to high, and beat until creamy, about 3 minutes more.
Gently fold in pimientos using a rubber spatula until just combined (making sure not to mash pimientos.) Transfer to a bowl, and garnish with a few additional pimientos. Serve with crackers.
