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Will the chances of me being accepted go down even with trying to improve my grades and standardized test scores?
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I currently have a 3.3 on a 4.0 scale and I will be taking the ACT and SAT before the end of 2020. I want to raise it by applying to early decision in January 2021. Will the chances of me being accepted go down even with trying to improve my grades and standardized test scores?

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I’m not sure what you’re asking tbh but what I interpreted it as was “if I apply early decision will I still not be in good standing/will I still be rejected?” and to that I’ll say only apply ED to a school you have a reasonable chance at. Don’t apply ED to the school you have the worst shot at because it still will most likely end up with a rejection or a deferral if you’re under qualified academically. I’m not sure what school you’re looking at but for most colleges the ED deadline is Nov 1 so you might want to check that date again. If it is in January I stand corrected. Also - why are you taking both SAT and ACT? You could decide on only one of those exams to take and then spend the summer to prepare for it. Taking both doesn’t make sense unless you are not sure which one you’re better at and want to take one exam each to get a baseline score. I highly recommend you just pick one and prepare for it to improve your score even further.

Pls LMK what you’re looking for or if you need clarification w anything

I meant that if I wait till the next semester to apply early decision because the schools I'll apply to offer a second early decision date in February. But I don't know if waiting is a good idea. That all I was asking but you pretty much answered my question :)
Ohh ok! Glad I could help :,) No, I don’t think it will change your chances much either way
I hope so but thank you :)
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So I don’t know if I’m reading things right but it seems to me you are asking

“Whether the chance of acceptence will go down even while trying to improve my grades and standardized test scores?”

If this is saying what I am thinking you will definitely not be penalized for seeking a better gpa and SAT. Colleges are looking for grade trends and this is an excellent way to showcase that you keep improving. If I have a 3.5 school X will ABSOLUTELY not be less favorable to me just becuase I increased my gpa to 3.6 for example.

If I got the question completely wrong please tell me so I can fix my answer. Hope this helps and please comment if you need clarification.

Also I just realized you were trying for ED. In that case what ever your GPA is currently will be the GPA you apply with bcuz as crsgo said the deadline is November. Unless your school uses trimesters or quarters that will be your gpa.
Also most of the time a high school counselor will send a mid term update around winter break saying briuauna got these scores 1st semester.
I did not know about a winter update thank you. I've already planned on speaking with my counselor and this really eased my anxiety about it :)