New Video Card, same Power Supply - will it be ok?

[cookieface]

I just picked up an XFX Radeon R9 390 which was a little out of budget but seemed like a good option. Now that I've received it, I realized the power supply requirements are more than what I've currently got. I've read through some posts regarding PSUs and have seen some saying a lower one is fine if it's a good brand or you're not doing much, etc. I'm hoping to get an answer tailored to my build:

http://pcpartpicker.com/list/Q6LRsJ

Intel Core i7-4790K 4.0GHz Quad-Core Processor
ASRock Z97 Anniversary ATX LGA1150 Motherboard
Cooler Master Elite V2 550W ATX Power Supply
Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive + 2 smaller drives from a prebuilt PC.

Will I be alright with a 550w PSU with the new card plus my current build? I would be playing GTA V and Sims 3/4 primarily. Just wondering if trying to install would damage my new card or PC, or if I will be fine for a month or two until I can pick up a new PSU?

ETA: I'm not overclocking.

 

[BadActor]

I think you would be cutting it too close with an i7, especially if overclocking. Your not going to have very much headroom left with a 550.

 

[cookieface]

If not overclocking, would it be safe to install and use? Could probably just play light gaming until upgrading in a month or two. My main concern is installing it and shorting my PC or frying the card because of a 200w power deficiency, lol.

 

[BadActor]

Looking at JohnnyGuru's review of it and the finding that it's really only a 500 watt PSU, I probably wouldn't use it.

http://www.jonnyguru.com/modules.php?name=NDReviews&op=Story6&reid=386

 

[bignastyid]

The CM elite V2 is a very poor quality weak PSU and the 390- is a very power hungry card the combo is likely to end very badly.
http://www.jonnyguru.com/modules.php?name=NDReviews&op=Story6&reid=386
Here's what I recommend.
http://pcpartpicker.com/product/JYyFf7/evga-power-supply-110b20750vr

 

[cookieface]

It's only really 500w? That's lame. I think I bought this last year, wish I'd known better. So don't even chance it, basically? I guess I can hold off on installing the GPU for a few weeks until I can pick up and have a friend install the PSU.

 

[BadActor]

You wouldn't want to take a chance damaging the rest of the system.

 

[cookieface]

If that's the risk then absolutely not. I'll wait to pick up a better power supply then. Thanks guys!