Preheat oven to 350º F (180º C). Line a large baking sheet with parchment paper or a silicone baking mat. NOTE: if you decide to chill the cookie dough, you don't need to preheat the oven until you are ready to bake the cookie.
Combine flour, baking soda, baking powder, and salt in a bowl. Set aside.
Beat butter, granulated sugar, brown sugar in a large mixer bowl over medium speed until smooth and creamy. Add cream cheese; mix until well combined. Scrape down the sides and bottom of the bowl as needed. Add vanilla; mix to incorporate.
Stir in chocolate morsels until evenly distributed.
Reduce speed to low and add the dry ingredients; mix until just combined. DO nor overmix.
Scoop the dough with an ice cream scoop onto the prepared baking sheet, about 1.5 tablespoons of dough per cookie, and arrange 3 inches apart. NOTE: If time allows, chill the cookie balls for 30 minutes up to 2 days.
Bake for 10-11 minutes, until barely golden brown around the edges. Cool on baking sheets for 2 minutes; remove to wire racks to cool completely.