Preheat oven to 350 degrees F. Spray or lightly butter muffin tins.
Beat together butter, cream cheese, sugar, vanilla, and eggs.
Mix together in another bowl: flour, baking powder, and salt. Fold in cranberries and nuts. Add to wet ingredients. Immediately, fill muffin tins ⅔ full with batter.
Bake until inserted toothpick comes out clean, about 25 to 30 minutes. Let cool 3 to 5 minutes before removing from pans.