Let's see 195/55 R15 has an outer diameter of = 195*0.55 *2 +15*25.4 = 595.5

while a 1950/50 R15 has an outer diameter of = 195*0.55 *2 +15*25.4 = 576.

Not only if you have a larger outer diameter, you also have a large sidewall height 107.25 v s 97.5 mm.

As the larger sidewall height would yield more air, you should be able to carry a much higher load. the standard load of 195/55R15 has a 85 load index vs 82 load index of 195/50R15.

So how does this affect you?

To be honest as a city driver, you will not miss a bit. But do watch our for the outer diameter change and also the clearance in your wheel area.