As the above responses imply, avoid Credit One. The denial was a gift from the credit gods 
Your DH should check into Capitol One (I fell for the logo clone thinking it WAS actually some part of Cap 1, who I don't have a problem with).
I kept them for just short of a year to see what their EX score was saying (it actually did match other input I got about EX), then closed them before the AF hit.
+1 Go for bigger and better. Maybe clean his report a little and age the good that's on there. Good Luck!
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
Im surprised that Capital one hasnt sued Credit One for basically trying to "imitate" their logo and such...
It's never a good idea to have a credit card administered by a collections agency. That card is one of the biggest rip-offs out there.
Starting Score: TU: 566