Actually Jews were not considered heretics in Christendom, heretics were those who were "Christian" in some sense but not adhering to the doctrine of the Roman Catholic Church (or the Orthodox Church in the east). Jews were persecuted for denying Christ entirely, not for having a different interpretation of Christ. For example the Inquisition was not about "punishing" declared Jews, who in fact had been expelled from Spain and Portugal, but rather rooting out those "Catholics" who were "crypto-Jews", conversos who had falsely "converted" and were a risk as they would spread heretical behavior from within. In Islam, some what similarly, Jews were accepted, at least as second class citizens, however anyone who had converted and later renounced Islam (or was secretly practicing another faith) was subject to the death penalty. Of course in Islam you have the Sunni/Shi'a divide (and many minors ones), with both Shi'a and Sunni denouncing the other as heretical.
The issue with the Jews converting to Islam was that Judaism had declared the age of prophecy over. This meant, even before the issue of the divinity of Christ, Jews would not accept him as a major prophet. Similarly Muhammed was not acceptable as a prophet bringing a new revelation.