Place softened cream cheese, butter and brown sugar in a medium bowl. Using an electric hand-mixer, on medium high speed, blend until combined and creamy.Add powdered sugar and vanilla. Turn mixer to low speed. Blend until everything is well combined. Fold in chocolate chips.
Serve immediately with anything you desire! We like to dip pretzels, cookies, vanilla wafers and strawberries in it.
*Store any leftovers covered in fridge for up to 5 days.