In a large pot, heat olive oil over medium heat. Add diced onion and sauté for 3–4 minutes until softened. Add minced garlic, chili powder, cumin, and smoked paprika. Cook for another minute until fragrant.
Pour in the chicken broth, shredded chicken, Rotel, black beans, and corn. Stir to combine and bring to a gentle simmer. Let it simmer for 10 minutes to meld the flavors.
Lower the heat and add the cream cheese, stirring until it melts and blends into the soup. Then pour in the heavy cream. Stir well to create a creamy, smooth texture. Season with salt, pepper, and a squeeze of lime juice if desired.
Let the soup simmer for another 5–10 minutes until warmed through and slightly thickened. Taste and adjust seasonings as needed.
Ladle the soup into bowls and top with crunchy tortilla strips. Add optional garnishes like shredded cheese, sour cream, chopped cilantro, and diced avocado for extra flavor and texture.