Place a large skillet over medium-high heat and melt butter. Add onion, bell pepper, jalapeno and salt and cook, stirring frequently for 2 minutes. Add corn and continue cooking for about 4–6 minutes until corn kernels are tender but still crisp, and the onion and bell pepper are soft.

Transfer corn mixture to a medium mixing bowl and add cream cheese, cotija or feta crumbles, cilantro, chili powder and garlic powder. Stir until cream cheese is melted and all ingredients are evenly incorporated.

Add lime juice and stir to combine, then season to taste with salt and pepper. For best flavor, cover and refrigerate for at least 1 hour before serving. Reheat the dip if you plan to serve it warm.