Preheat oven to broil. In a large skillet, cook bacon over medium heat until crisp; drain, and set aside.
Meanwhile, sprinkle each side of chicken with garlic powder and pepper. In a large cast-iron skillet or ovenproof skillet, cook chicken in hot oil, in batches if necessary, 5 - 6 minutes per side or until browned and fully cooked.
In a small bowl, combine cream cheese and jalapenos, microwaving if needed to make smooth. Spread over chicken, and sprinkle with cheddar cheese.
Transfer skillet to oven, and broil 2 - 3 minutes or until cheese melts. Sprinkle each piece with bacon to serve.