To begin I just built a new PC 3 weeks ago. Specs are I7 4970k, Asus Z97-AR,  RAIDMAX Cobra RX-700AC-B 700 watts and EVGA SC 970 using windows 7. Computer worked well, passed all stress test ect, heat levels looked good card never gets above 70C playing Farcry 4. No issues for 3 weeks, i did not instal any updates.
 
The issue occurred yesterday, started computer and it would not display video. Did several hard restarts, removed the power cord, waited several minutes still no display on start. All other fans and power to PC worked .There was no beeping from the MB but did see a Red VGA error light. Opened the case, and restarted fans worked briefly 5 seconds on the video card but then stopped.
 
Powered off again reseated the power cords and the GPU, restarted computer and it worked. I have had zero issues over the last 3 shutdown and restarts since I reseated.
 
My question is do I have faulty hardware or is it potentially a bios issue. The GPU is currently seated in the second PCI16x slot on the motherboard. I did this for better airflow but I am thinking of switching it to slot1.  I am not sure what caused the Led light I just want to make sure i fixed it.
 
Has anybody had similar issues, if I have a faulty part I want to RMA asap.

When the video would not display my motherboard was giving me the red error light VGA.
 
Its possible it was not seated far enough in, I found it odd though  in the last 3 weeks the computer ran over 90 hours without an issue though.
 
I plan to put it into the first slot closer to the CPU tonight.

I reseated the card to the first PCI slot, this exacerbated the problem. The issue now occurs on almost every other start. Computer will start after removing power cable waiting a minute then restarting. 
 
I tried using a DVI cable thinking maybe i have a bad HDMI cable but no received no video at all.
Do I have to change the settings or should it be plug and play ?