Ignore the 550w "requirement" as it has absolutely nothing to do with reality. What matters is the brand/model of your PSU and how much voltage is available on the +12v rail(s)
This info should be on the side of the PSU.
Well the card will either run or it won't. It uses a certain amount of power for regular operation and more when used to play games. If the PSU can't handle the card at all the system won't start up properly. If it can't handle the power needed during games your computer will shut down when you try to play.
If you already have the card and none of that is a problem then you don't need a new PSU and getting a new one will make no difference in the card's performance.