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Cheesy Baked Olive Dip

INGREDIENTS
1 cup green olives, roughly chopped
1 cup black olives, roughly chopped
1/2 cup mayonnaise
1/2 (8 oz.) package cream cheese, room temperature
1/2 teaspoon onion powder
1/2 teaspoon garlic powder
1 cup sharp cheddar cheese, grated, divided
Green onions, optional, finely chopped
Kosher salt and freshly ground pepper, to taste
Crackers, for serving

PREPARATION
Preheat oven to 350º F.
In a medium bowl, stir together mayonnaise and softened cream cheese until smooth and combined.
Stir in onion powder and garlic powder, then season with salt and pepper.
Add both green and black olives, then stir in 1/2 cup cheddar cheese.
Transfer mixture to a square baking dish and top with remaining cheese.
Place baking dish in oven and bake for 20-25 minutes, or until cheese is hot and bubbly.
Remove from oven and let cool 10 minutes before serving.