This could be tricky if you're not careful, but, I picked up a 1948 campus green DX girls Schwinn that had been in a field for 10 year or so.. pretty rusty if can imagine.. I've experimented on several things with a cheap,, toilet bowl clear, so figured wouldn't hurt this project. Dollar store has a cheap septic safe toilet bowl cleaner.. Just slightly less acidic than regular, which is decent too,.. I'm not really much of a hobbyist in bikes, but as a teenager in the late 60's I used to buy Schwinn parts, and completely restore a whole bike, and sell for a nice profit.. Including acid dip the frames paint original color and new Schwinn decals.. long, long ago.. Anyway always a fan of old Schwinn..
have a couple just cause they're still better than the junk made today. I've got about 200 bucks into my whole, 'collection'
First I took the frame completely apart and I actually just wanted to clean out the rust in missing paint areas I was scared to leave it on for even a minute as I've seen this stuff etch porcelain on old, old bath tubs, bad porcelain already, but leave it on over a minute and it'll get worse! LOL.
Anyway I wiped it on and seconds later rinsed it with distilled water. in a few places let it sit a tad longer,, but scary, so a few places a second try. And to my amazement,, it cleaned all the rust out of the paint too!! It was awesome as it cleaned the rusty color right out of the white paint leaving that nice mellow white original tint color intact.
I applied water on it and rinsed it several times after plus let it dry and rinsed again.. Used a soft tooth brush and gave a light scrub a dub in any cracked areas, or missing paint spots, to insure the cleaner washes out. , The paint cleaned out so well, I was a little shaky for fear it would ruin. But Nope!!
Got out my old trusty rusty ball pin hammer and gently tapped the dents out of fenders and chain guard then I bought some of the original paint colors for it, and added in some light touch ups. wasn't trying for a restoration, just a nice rider..
I did not attempt to make it perfect,, just cleaned up, touched up.
It's been about 10-12 years .. So, it's been played with since, and she still looks decent, from field rust bucket to this.
OH yeah, I've always just used lemon furniture polish on my bikes,, the chrome too.
95 cruiser deluxe BP 1995 frame recent purchase, 75 bucks,, very well USED! rust bucket couldn't pass up..
And 62 hornet from a flea market 13-15 year ago, 40 bucks. couple of bucks for tires on the DX, a little paint and about 200 in total 'collection' . not a big 'hobbyist', just an old Schwinn fan.
BTW, , a little piece of info I learned at about 13 years old. DO NOT PUT ACID ON CHROME!!.
Anyways, your bike is way better condition than my DX was, and would look awesome if ya managed to do the same as I. for just 8 hours labor and a few bucks.