I have used and own both LV wallet and Chanel wallets...
So far I have been using 2 Louis Vuitton Wallet and been using 2 Chanel wallets (plus another one that hasn't been used yet).
This is how I experienced and feel...
LV wallet... I use monogram canvas for durability as well as i really like how it age over time... It holds up really well as well as age beautifully.... It lasts ages.... I really mean like ages!!!! And doesn't look worn out or old quite easily... easy to look after and low maintenance... Think about this... when it's in your bag with other stuff, it's almost impossible to avoid contact or scratch from things in ur bag. So I would give LV wallet rating 8.5 - 9 (I only recommend and comment on Canvas only... and not the Damier Azur one as it's easy to get dirty along zip area as it's light ivory fabric).
Chanel wallet (I'm using lamb wallet)...pro: looks expensive, feel so silky cloudy soft, feel luxury......now comes to the cons: easy to get scratch (but u can rub it off if it's not too deep) as u can't avoid contact with other stuff in the bag, and it won't last as long as LV (u knew that), and it doesn't age as beautiful as LV... and it will look worn out sooner compare to a handbag... coz with wallet, you use it all the time...
So , you choose then
I actually rotate my wallets, that's why it's not really my big problem... but i don't use my lamb wallet as much as I use my LV wallet.... coz I love to see my wallet/bag in good condition and I will get freak out if it got scratches or crease or whatever.....
Now, it's up to you and your life style then.... Good luck!
ps: today am using LV wallet