Easyiest way to handle rust?
 

A friend gave me his 15 years old MBK Super Mistral, which I plan to convert to single speed and use as a beater and commuter.

I replaced the brake pads, and am already riding and enjoying it, but what bothers me is that the frame has some rust. I may get to sandblast and powdercoat it in the future, but right now, since it's going to be a beater, I don't care about the look, I just want to keep the rust in check.

I thought about sanding it down and then applying some lacquer over it, but going to the nearest DIY store today, I saw some rust remover products (such as this one,) and wonder if they'd be OK to use on the frame? (the tubing sticker says "707")

Is there another cheap, and not-labour intensive way to handle the rust?

I know this question must have been asked before, and I did try searching the forum, but I couldn't tell from what I found if it's the same stuff as described in other posts. Please, help a C&V noob.

POR 15 might be an option, it comes in large or small quantities. It's basically and enamel with a rust neutralizer. I've used it on car parts before and it works pretty well.

Oxalic Acid. Available pre-mixed as deck bleach. Home Depot carries Behr No.63 wood cleaner/brightener/conditioner in the gallon size. Makes 5 gal for your deck but I use it at the purchased strength.

Then paint with primer and a top coat. A small artist's brush works well for small chips.

Stuff available in your Home Depot, may not be available in my Home Depot. I'm in Israel, and decks aren't popular here. Also, some chemicals which may be sold in the US, may be prohibited here. But I'd try looking for Oxalic Acid.