In a mixing bowl, combine cream cheese, cheddar cheese, jalapeños, bacon, garlic powder, onion powder, salt, and pepper until well blended.
Lay one egg roll wrapper on a clean surface. Place about 2 tablespoons of filling in the center.
Fold in the sides and roll tightly, sealing the edge with a little water.
Repeat with remaining wrappers and filling.
For deep frying: Heat oil in a large pot to 350°F. Fry egg rolls in batches for 3-4 minutes until golden brown and crispy. Drain on paper towels.
For air frying: Preheat air fryer to 375°F. Lightly spray egg rolls with cooking spray and air fry for 6-8 minutes, flipping halfway, until golden and crispy.