In a non-stick skillet, fry the bacon. When it's done, remove it to a plate lined with paper towels to drain and cool off. Leave the bacon grease in the skillet with the heat on medium-low.
Set your oven on broil and move a rack to the top.
While the bacon is cooking, slice the peppers into thin rings and remove the seeds. Set them aside.
Whisk together the eggs, cream (if using) and salt. Pour into the hot skillet.
When the sides of the frittata begin to firm up, place the pepper rings gently on top of the eggs in a concentric circle pattern, starting on the outside edge and working your way to the center. Place a dollop of cream cheese inside every pepper ring.
Crumble the bacon on top of the frittata and sprinkle with the cheddar.
If your nonstick skillet has a plastic handle, wrap a piece of aluminum foil around the handle at least 3 times. Make sure that the foil is long enough to cover the entire handle from base to end.
Place under the broiler until the cheese is melted and the eggs are set, 1-2 minutes.
Macros, counting 1 tbsp of bacon grease, not counting the optional cream: 335 calories, 2 grams net carbs, 20 grams protein, 27 grams fat.