Wash and cut 3 lbs of red potatoes into bite-sized cubes. Place in a large pot, cover with water, and boil for 10-15 minutes until fork-tender. Drain and let cool completely.
In a large mixing bowl, whisk together 1 cup mayonnaise, 1/2 cup sour cream, 2 tbsp Dijon mustard, 1 tbsp apple cider vinegar, 1 tsp garlic powder, 1 tsp salt, and 1/2 tsp black pepper.
Cook 8 oz of beef bits in a skillet over medium heat until crispy. Remove from pan. In the same pan, cook 8 oz of steak to your desired doneness. Let the steak rest, then slice it thinly.
Add the cooled potatoes, 1 cup shredded cheddar cheese, 1/2 cup chopped red onion, 1/4 cup chopped chives, and crispy beef bits to the dressing. Gently toss everything to combine.
Garnish the salad with the sliced steak. Cover and refrigerate for at least 1 hour before serving to allow flavors to meld.