When you say this is your first build, do you mean that you have assembled the PC yourself?
If so, how well did you research compatability of graphics card with mobo? Check mobo & video manfr. wesites for any compatability problems. Check if there are any drivers or BIOS upgrades available and install them.
Are you overclocking?
Have you disabled on-board graphics (if any) in BIOS if you are using an add-on video card?
It does sound like a video card problem - where did you get the drivers for it? Ensure they are correct and up to date
Have you tried re-installing the operating system from CD - if you have no data or applications, re-format and re-install.
Note all the BIOS settings and trying re-setting to factory defaults.
If you have another video card (or on-board graphics) try running that.
SD
Oh yes, can I have the memory and video card when you chuck em out the window?