Yes, chip is a Scrabble word!
...and is worth 11 points in Scrabble, and 12 points in Words with Friends
chip
Verb
1. Break off (a piece from a whole)
2. Cut a nick into
3. Play a chip shot
4. Form by chipping
5. Break a small piece off from
Noun
1. A small fragment of something broken off from the whole
2. A triangular wooden float attached to the end of a log line
3. A piece of dried bovine dung
4. A thin crisp slice of potato fried in deep fat
5. A mark left after a small piece has been chopped or broken off of something
6. A small disk-shaped counter used to represent money when gambling
7. Electronic equipment consisting of a small crystal of a silicon semiconductor fabricated to carry out a number of electronic functions in an integrated circuit
8. (golf) a low running approach shot
9. The act of chipping something
What Scrabble words can I make with the letters in chip?
3 Letter Words
2 Letter Words