Notice whoever does not believe will be condemned. The key is believing. You can be baptized but not believe. Your handle sums up Rome very well.
You can also say that you believe, but be in mortal sin at the time of your death.
Baptism forgives the sins at the time of Baptism, and the Sacrament of Confession/Reconciliation forgives sins confessed to a Catholic priest.
Baptism is not just a symbol, as so many Evangelicals claim. According to the Bible, it is a marvelous grace—a great gift from God, which we do not deserve in the least and which washes away our sins, bestows upon us the Holy Spirit, grants us new life in Christ, and absorbs us into the Mystical Body of Christ, the Church. As even Martin Luther himself put it, baptism “works the forgiveness of sins, delivers from death and the devil, and grants eternal salvation to all who believe this, as the words and promises of God declare”.