Yes. You do not have to use the "Get Out of Jail Free" card. Although there is not a specific rule stating this, you don't have to do anything in the game unless there is a rule that says you have to do it (I.E., there is a specific rule that says that if you land on the Go to Jail space, you must move to Jail).
The rules about the "Get Out of Jail Free" card simply state:
You get out of Jail by… (1) throwing doubles on any of your next
three turns; if you succeed in doing this you immediately move
forward the number of spaces shown by your doubles throw; even
though you had thrown doubles, you do not take another turn;
(2) using the “Get Out of Jail Free” card if you have it; (3) purchasing
the “Get Out of Jail Free” card from another player and playing it;
(4) paying a fine of $50 before you roll the dice on either of your next
If you do not throw doubles by your third turn, you must pay the
Using the card is simply listed as a way that you can get out of Jail, just like paying the $50 is. Note that paying the $50 is mandatory if you don't get out of Jail for free (with the card or by rolling doubles) within 3 turns.