In a large bowl, combine the softened cream cheese and mayonnaise.
Mix until smooth and creamy using a hand mixer or spatula.
Add the shredded cheddar cheese and stir until well incorporated.
Fold in the diced pimentos gently to maintain their texture.
Add Worcestershire sauce, garlic powder, onion powder, and mix well.
Season with salt and pepper to taste.
Cover the bowl with plastic wrap and refrigerate for at least one hour.
Once chilled, taste and adjust seasoning if necessary.
Serve with crackers, veggies, or on sandwiches as desired.
Store any leftovers in an airtight container in the refrigerator.