Setup US iTunes Account in 5 Mins – Redeem iPhone Promo Codes
Next the iTunes Store threw a big list of Terms & Conditions to accept after which it was asking for Email Address, Password[twice], forgot Password Question & Answer along with the Date of Birth. Next is the most important section where in you will be asked to select the Payment Mode but since you are not from US and are looking for a account to just get access, you can select the Payment Option as None along with some of your relatives US Address and Phone Number.
This kind of account will be allowing you to just Redeem any iPhone Promo Codes you receive and also get access to the Free Apps available in the iTunes Store. Also you dont need a Credit Card for setting up a US Based iTunes Account and this does work. Let me know if you find any issues with this.