Combine all seasonings in a small bowl and set aside. Remove cream cheese from refrigerator to soften and shred cheeses from blocks.
Heat butter and olive oil in a large soup pot over medium heat. Add onions and jalapeño, cooking for 4-5 minutes until onions are translucent. Add garlic and cook 1 more minute.
Pat chicken dry and season with salt and pepper. Add to pot with enchilada sauce, tomatoes, black beans, corn, hot sauce, chicken broth, and spice mixture.
Bring to gentle boil and simmer 18-22 minutes until chicken reaches 165°F internal temperature. Remove chicken, shred with two forks, and return to soup.
Reduce heat to low. Stir in softened cream cheese until smooth, then gradually add shredded cheeses, stirring until melted and creamy.
Taste and adjust seasonings as needed. Serve hot with desired toppings.
Notes
Use rotisserie chicken for quicker prep – add 2-3 cups shredded chicken in the last 10 minutes of cooking.
Shred cheese from blocks for better melting. Keep heat low when adding dairy to prevent curdling.
For crock pot method: Add all ingredients except cheese and cream cheese, cook on low 6 hours, then stir in dairy ingredients.