In a pot on medium high heat, add oil. Toss in the onion, bell peppers, and jalapeño. Sauté 4-5 minutes stirring occasionally.
Add in the garlic and cook until garlic is fragrant.
Place chicken breasts into the pot as well as the taco seasoning, green chiles, undrained Rotel and chicken broth. Stir and allow to simmer for 30 minutes.
Remove chicken from the soup and shred on a plate.
While the chicken has been removed from the pot add the cream cheese, heavy whipping cream and shredded cheddar cheese and stir until smooth.
Add the shredded chicken back to the soup, stir, and serve.
Net carbs per serving: 8.7
Serving: 1/6 of recipe, Calories: 421kcal, Carbohydrates: 11.5g, Protein: 29g, Fat: 28.5g, Cholesterol: 126.9mg, Sodium: 749.7mg, Fiber: 2.8g, Sugar: 5g