In a small bowl, whisk together the olive oil, 2 Tbsp of juice from the lime, balsamic vinegar, chili powder, cumin, salt, and sugar.
Rinse and drain both cans of beans in a colander. Once well drained, transfer them to a large bowl.
Finely dice the bell pepper, tomatoes, jalapeño, and red onion. Try to dice the vegetables into pieces that are roughly the same size as the beans. For a less spicy salad, scrape the seeds out of the jalapeño before dicing. Roughly chop the cilantro.
Add the chopped vegetables to the bowl with the beans.
Pour the dressing over the salad, then stir until everything is well coated. Serve immediately, or refrigerate until ready to eat.
*If you're in a rush, bottled Italian dressing makes an easy and fun substitution for the homemade vinaigrette. **"Chili powder" is a mix of spices used to season chili, not pure red pepper.***Because black-eyed peas are technically a "pea" (vegetable), they're sometimes found with the canned vegetables rather than the beans. You can also often find them in the freezer aisle, although you'll want to boil those black-eyed peas first, according to the cooking instructions on the package. Andif you can't find black-eyed peas, you can substitute pinto beans or navy beans.