Heat the oil in a large pot or Dutch oven over medium-high heat. Add the bell peppers, onion, and garlic and cook for 10 minutes, stirring occasionally.
Add the ground beef, chili powder, salt, smoked paprika, ground cumin, and oregano. Cook for 5 to 6 minutes, crumbling the meat with a spoon and stirring occasionally, until browned.
Stir in the diced tomatoes, pinto beans, black beans, corn, water, and chicken bouillon. Cover, reduce the heat to low, and cook for 20 minutes.
Remove the pot from the heat and stir in the lime juice and cilantro. Taste and season with more salt as needed.
Serve in bowls topped with your favorite toppings.
Notes
To add some heat, add a diced jalapeño or serrano pepper when sautéing the peppers and onions.
Beans: Don’t drain or rinse the beans before adding them to the soup. The bean broth from the can will help thicken the soup and add even more flavor.
Don’t add more water or liquid. As the soup cooks, the vegetables release more water. 1 cup may not seem like enough when you first mix it in, but by the time everything is done, the consistency will be perfect. If you want to add more liquid at the end to thin it out, you can stir in a splash or two of chicken broth.