Thanks for your replies guys, but another thing I forgot, the PSU I have is a generic one. But I was planning on replacing it with http://www.newegg.com/Product/Product.aspx?Item=N82E168... or what are your other suggestions. In the meantime will the generic one be sufficient with the card?
My card just arrived today and was planning on installing it or just maybe later?
My suggestion above is more than enough for a single GTX 550 Ti (like I said just recently put together a system with one and that PSU; works like a charm) Also used the same PSU in another acquaintance's custom build.
Yeah, never trust a generic or store brand PSU. The high end Rosewill's have been tested and they are good to go (Newegg House Brand). Antec, OCZ, PCP&C, Rosewill Capstone series and a couple others are good but please, never trust anything not "name brand"
I've seen an unbranded 1250watt PSU become dangerously unstable at half it's wattage specs! and once they cranked it to 1250watts it blew.
A 700w is more then enough, but personally I agree with the general consensus on this forum that you should stick to brands that are known for good PSUs and have a reputation to maintain, like Corsair which is my personal choice, I've also heard Antec do pretty good units. I heard cooler masters low-mid PSUs are about average, but nothing really special... there high end PSUs are supposed to be good though. but overall I'd say Corsair, all there PSU's are great from low to high end (maybe a little extra cost per watt but it's worth it!)