In a mixing bowl, combine the softened cream cheese and mayonnaise. Blend together using an electric mixer or wooden spoon until smooth and creamy.
Add in the shredded cheddar cheese and mix until well incorporated.
Fold in the diced pimentos, garlic powder, onion powder, cayenne pepper, salt, and pepper, making sure to evenly distribute the ingredients.
Taste and adjust seasoning if necessary, adding more salt or cayenne for extra heat.
Transfer the pimento cheese to an airtight container and refrigerate for at least 1 hour to allow flavors to meld.
Serve chilled with crackers, vegetables, or use it as a sandwich spread.
For extra flavor, you can add chopped green onions or a splash of hot sauce.
Pimento cheese can be stored in the refrigerator for up to a week.
Enjoy your homemade pimento cheese!