In a small bowl combine salt, pepper, garlic powder, onion powder, and thyme. Mix well and set aside.
Heat oil in a deep-fryer to 375 degrees F. Cut the potatoes into lengths of about ¼” x ¼” x 4” (you can peel the potatoes if you would prefer). Submerge the potatoes in cold water for 30 minutes.
Remove the potatoes from the water and pat dry them with paper towels.
Add potatoes into the hot oil in batches and deep-fry for 8-12 minutes until light brown. Drain on a plate lined with paper towels. Repeat until all of the fries are cooked.
Sprinkle the fries with some of the seasonings.
Preheat the oven to 400 degrees F. Lay the fries out onto baking sheet. Mix the cheddar and Monterey jack cheese together and sprinkle the cheese over the fries.
Sprinkle the crumbled bacon over the cheese. Bake for 4-5 minutes in the oven until the cheese has melted. Serve with ranch dressing.