If you run the numbers on the i5-4690K + R9 290X, a 550W could indeed be borderline if there was any overclocking involved anywhere.
The over-head before protection trips varies depending on the specific PSU.. The 360W Seasonic won't trip protection till ~450W. On the other hand, it's perfectly possible that your particular 550W PSU was tripping protection right at 550W or less. (12V rail over-current limits may have been set unusually low). This is why it's so important not to judge a PSU based on the label power rating, it's not always a good indicator of what the PSU can really be used for.
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Thermaltake has never made a PSU, but they have enlisted more OEMs to make PSU's for them than any other brand I know. ...Sirtec, HEC, CWT, Solytec, Delta, FSP, Enhance, maybe more. The quality of the enormous smattering of PSU's they've sold over the years is all over the map. Some are pretty decent but the vast majority have been trash.
Cougar is HEC/Compucase. Most of their PSU's are HEC, some are Andyson, same OEM that makes Raidmax PSU's, well accepted as some of the worst on the planet. HEC is hit and miss on PSU quality, with the best offerings still being mediocre when compared to alternatives.
Corsair, another name in the business that has never actually made a PSU, has done a very good job over the years of only enlisting the use of reasonable quality or better PSU platforms, with very few borderline exceptions. Their primary OEM, CWT, is responsible for most of the middle and low tier offerings, with Seaconic building most of the nicer offerings sold under this name. Historically Corsair enjoys bit of a price premium for a given quality of PSU due to the well established name.