Blend the cream cheese, sour cream, mayonnaise, garlic powder, and half of the ranch seasoning mix with an electric mixer on medium speed until smooth.
Fold in the cheddar, bacon bits, and most green onions (reserve some for garnish). Taste and add more ranch mix for stronger flavor.
Cover the bowl and refrigerate for at least 1 hour so the flavors blend well. Garnish with remaining green onions. Serve chilled with chips, crackers, or fresh veggies.