Applying test optional won’t “ruin your chances of getting into college.” Your grades and course rigor are more important than your test scores, so don’t sacrifice your school work to prepare for either standardized test. And in almost all instances taking both is just overkill.
Hundreds of quality colleges are test optional for this admissions cycle and next admissions cycle. I’m not sure what I am allowed to link here, but if you search for Compass Education’s “SAT and ACT Policies and Score Ranges for Popular Colleges and Universities,” their information includes the years in which various schools have committed to test optional.
The caveat is that test optional doesn’t always mean the same thing at different schools. For example, MIT is technically test optional, but MIT strongly recommends that applicants submit test scores if they are able to take the test. Many other highly selective schools have indicated that it is up to the student, and the school will evaluate only what is submitted. Some highly selective schools (Cal Tech, and all the UCs and California State schools, for example) will not accept test submissions at all.
So if you have your heart set on a certain school or schools, you should check their policies before deciding to forgo taking the test.
Beyond that, you should consider the strength of the rest of your application, and whether your expected test score is likely add to or detract from the rest of your application. This is hard to do if you haven’t taken the test, but you may have a pretty good idea from the PSAT, for example.