- Cook ground beef, onion, sweet pepper, and garlic in a 4-quart Dutch oven or pot until meat is brown and onion is tender; drain off fat.
- Stir in water and tomato paste until combined. Stir in undrained diced tomatoes, mustard, chili powder, salt, black pepper, cayenne pepper, and cumin. Stir in kidney beans and Great Northern beans.
- Bring to boiling; reduce heat. Simmer, covered, for 30 minutes. Top each serving with cheddar cheese. Makes 8 to 10 servings.