For me, the two big deciding factors with these types of small, clutch bags is the closure and the interior. I can't deal with a closure that's too fussy. As lovely as it is, that piston might frustrate me a bit. Also, although it might be called a "wallet on chain," I don't actually want that. It's okay if it has a slip pocket and/or a couple of card slots. But really, I just want an open space I can put my card holder, phone, and a lipstick.
Both of these are lovely, and so classic and classy looking! I do think they both will work well for day and night, too. So, perhaps try and figure out which one would be more practical for your use.