Second time today I said this
Velveeta and Rotel. (diced tomatoes and green chilis) cant be beat.
Sometimes people like to add chili in in.
The way I always do it is to cube the Velveeta (half the brick) up into dice sized pieces and add a can of Rotel. (don't drain it) Then microwave 1 minute at a time and stir it up every minute. I do it all the time and it's always the first thing eaten. Watch out it's very easy to singe (burn) the cheese, so only microwave it 1 minute at a time and stir every minute.. If you use the whole brick of cheese (the big one they sale) use 2 cans of rotel
If you want to save a buck use the store brand cheese and rotel. I've never (or my guests) have been able to tell a difference.
To really get the saucy nacho cheese use velvetta (pasterized) cheese. Regular cheese hardly ever melts into a good cheese sauce. And when it does it will just clump back up after a few minutes.
Here are basically the same directions.
It's the same thing Chilis (the restaurant) serves I think. Excepy they have chili in there as well.