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Go to the Settings App and make sure you are not logged into the iTunes&App Store.
Open the App Store App and choose a free app to buy. When it prompts you for your Apple ID and password, instead tap "Create a New Apple ID"
Follow the screen prompts to create your new Account. When it asks for Credit Card Info, leave the setting on None.
Check your email and click on the verification link sent to you from Apple.
Go back to the App Store App and finish buying your Free App. You now have an Apple ID with no Credit Card information.